re: #140 Love-Child of Cassandra and Sisyphus

The “rich” don’t really have enough money to cover the debt.

Printing money is just austerity by another name. Hyperinflation leads to the inability to buy goods and services, just like physically limiting those goods and services.

The rich don’t have to pay off the debt, just pay the interest. You are assuming there would be hyperinflation. There are massive deflationary pressures that didn’t exist the last time inflation was a problem 40 years ago. The ever plunging cost of computing power, the lack of bargaining leverage the deunionized workforce has, the removal of price controls on airlines, energy and other economic sectors, and the opening of the formerly communist and third world to economic development, most of which produced little anyone wanted to buy 40 years ago. This was an important point AOC made when questioning Powell; there is virtually no inflationary pressure in the economy.