[economist-student]

The only solution is either outright default to our foreign obligations or "inflate or die". The former will have huge short-term implications while the latter will have even greater long-term implications such as continually declining living standards and capital misallocation

[RegulatorCountry]

"The only solution is either outright default to our foreign obligations or "inflate or die"

Both scenarios mean currency devaluation, so why default? You'd have excessive inflation either way.

[Toddsterpatriot]

The only solution is either outright default to our foreign obligations or "inflate or die".

Why do we have to do either?