Sure.
And think about it.
If what I said about what “notational” means is correct, then we are talking 340 trillion dollars.
Annual GDP is like what, 15 trillion dollars?
And we are in hoc for (at least what we KNOW of) 340 trillion dollars?
It’s unsustainable. It’s to the point of being meaningless.
It can’t be leveraged against. It can’t be insured. It can’t be paid back.
It’s totally un-regulatable and if you put five people in a room and ask them what it means, you will get six or seven different answers!
“Annual GDP is like what, 15 trillion dollars?”
Far less than $10 trillion. The fed likes to count money twice and counts service industries as some kind of product.