-——that there is no solution that does not involve serious economic pain-——
Yellen is.
Inflation will be. It will be administered in a painless, in fact, stuporific manner that will feel good.
Incomes will rise at an ever increasing rate that will make the rise in prices palatable. There will be universal healthcare the cost of which will be lost in the inflation. It will not be a penalty or burden.
The pain will be felt by the debt holders. The value of their debt assets will decline in real $$. The debt in new $$ will become manageable and disappear as a problem. They have been paid for the loss in advance. Their gains to date are an alowance for the financials asset devaluation that is coming
That’s the plan. Everybody (that matters) knows it except the wacko conservatives trying to wreck the train.
The poster describes the plan that can quite plainly be seen but does not agree with it.
“The poster describes the plan that can quite plainly be seen but does not agree with it.”
Nor do I. Because the “Yellen alternative” ignores the possibility/probability of the US Dollar losing it’s reserve currency status.
What will happen ( they are already talking about it) is they will try to raise the age for social security and the formula for computing it to ‘chained CPI’.
The Republicans will go ‘on record’ voting for it, the RATS will defeat it, and Republicans get slaughtered in 2114!
A dumber plan couldn't have been dreamed up if they tried!