How on earth can this be fixed. Even Donald Trump in his top form will be challenged.
ANY Republican will be challenged because they will try to stop the “train”.....a DEM on the other hand will continue the “train”....both, however, seem to lead to the same wreck....
Bankruptcy.
With sovereign debt there's no recourse if the sovereign decides not to pay it off.
The classic way is to inflate your way out of it so you pay off debt with inflated currency.
Example:
Inflation for the 10 year period 1973 to 1982 was 87.6%
So on the average people working the same job made 87.6% more in 1982 than in 1973.
Imagine buying a home in 1973 for $20,000 on a long term fixed rate mortgage.
In 10 years your income (without counting raises) has gone up to 187.6% of what it was.
You can now afford to pay almost twice as much on your mortgage every month.
Annual Inflation Rates For 1973-1982:
1973 - 6.2%
1974 - 11.0%
1975 - 9.1%
1976 - 5.8%
1977 - 6.5%
1978 - 7.6%
1979 - 11.3%
1980 - 13.5%
1981 - 10.3%
1982 - 6.2%