[NRx]

The building sovereign debt tsunami is a bit like a game of kick the can for politicians. They are all kicking the can down the road while quietly praying that we don't run out of road until after they are safely out of office.

[bkopto]

And with mass default comes war.

[circlecity]

"Only mass default will end the world's addiction to debt"

I absolutely believe this is true. No politician has the courage or political will to do what needs to be done. To the contrary, they are all jockeying to be in place to snatch the last bag of gold off the train as it goes over the cliff. There's a hard rain gonna fall.

[musicman]

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[Cowboy Bob]

What will end the government’s addiction to taxpayer money?

[NRx]

FWIW I rather disagree with Warner’s apocalyptic view of a coming hard default. Yes, there will be a mass default, but it will be a soft one. The traditional solution to excessive sovereign debt can also be easily applied to private or corporate debt. Flooding the world with newly printed money will have the effect of inflating away a lot of this debt.