U.S. Fiscal Meltdown in Spitting Distance: Laurence Kotlikoff

[TS12000]

It will be obvious when their paychecks stop coming and everyone is wiping their ass with hundred dollar bills...or two hundred thousand dollar bills

[flan7211]

Only plus to inflation is the ability to more easily pay off debt. That was the whole "green back" fight in the 1870's and 80's. Where agrarians argued that a more devalued dollar could help eliminate the debts they owed banks. While the hard currency types argued that it would destabilize the entire system. So if it hit that hard you wouldn't have an ounce of debt, but the following day banks couldn't loan money and business would collapse. So yes let's act on this before it's too late.

[CO Retriever]

Only plus to inflation is the ability to more easily pay off debt. That was the whole "green back" fight in the 1870's and 80's. Where agrarians argued that a more devalued dollar could help eliminate the debts they owed banks. While the hard currency types argued that it would destabilize the entire system. So if it hit that hard you wouldn't have an ounce of debt, but the following day banks couldn't loan money and business would collapse. So yes let's act on this before it's too late.

This is true to a point with certain types of debt. The debt that is the most valuable when these situations arise is fixed interest debt such as a mortgage. However the truth of matter is that the lending restrictions have gotten to the point that it's hard for most to qualify for additional fixed interest debt.

The banks knew that this was coming and it's part of the reason that they tightened up lending restrictions. The people who are going to make out on bandits are people who have been able to buy property while the market has been down with fixed interest debt. They will get the benefit of inflation and the benefit of buying cheap property. It's going to be the biggest wealth transfer that has ever taken place in the history of the world. Just my .02

[sniper7]

It will be obvious when their paychecks stop coming and everyone is wiping their ass with hundred dollar bills...or two hundred thousand dollar bills

kid makes some damn good money slingin crack!