I have posted for years, incorrectly it turns out, that the king’s secret for eliminating debt has always been inflation. Modern economic kings, the world over, prefer to allow debt and to allow it to grow.
The quest for a $15 minimum wage and a living wage are steps down the inflation path. Since it can not be accomplished at the federal level, it is being done by the states.
No. The king is printing money like crazy. We’re getting no inflation though because the velocity of money is falling. If it ever stops falling then we will get the inflation. The king doesn’t care whether there is inflation so long as he can print money.