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sudosysgen
on Nov 30, 2023
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U.S. GDP Grew at a 5.2% Rate in the Third Quarter,...
You can't inflate away government debt, not meaningfully, because it's almost always going to be at a rate higher than inflation by construction.
wholesomepotato
on Nov 30, 2023
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Yes, but also - they lie about the inflation and force the public to hold the bonds anyway (aka. financial repression, yield curve control).
cwalv
on Nov 30, 2023
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Exactly. YCC is already happening in Japan; it's inevitable here too. The only alternative is outright default, which never happens when the debt is denominated in currency the debtor can print.
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