That is the only conclusion I have been able to come up with that is politically acceptable. The alternative is to stop printing, let interest rates rise to double digits, and have the Great Depression II happen. That is not politically acceptable.

So we will keep printing until the currency is destroyed. Prices will skyrocket out of control. Then we will have the deflationary depression after the currency is destroyed and the nation is in tatters.

I don't see any good way out of a debt bubble. One way it ends badly. The other way it ends worse. But the worse way can be kept going longer.

But I'm a chicken little, so pay no attention.

John