Problem is, when talking debt on that scale you reach diminishing returns on such inflation. Comes a point when printing more doesn’t really do any good. Creditors figure out the scheme fast, demanding proportional or dynamic interest (or refuse to lend at all). If just making interest payments, more borrowing means greater interest; US debt service alone is about 20% of federal spending - which, alas, means it’s a much greater percentage of actual revenue, bringing us dangerously close to ALL income going solely to debt service (without which the system collapses). And fractional-reserve banking means there is far less actual cash than there is imputed ownership of money; there exists only some $4T _cash_, about half overseas and maybe half that squirreled away under mattresses (so to speak), so when creditors start demanding payment in hard currency the government will be unable to come up with enough - even firing up the physical presses will require a whole lotta time & effort to produce on the order of $100B paper dollars (and methinks the briefly-entertained minting of a $1T coin won’t go over very well).
“Problem is, when talking debt on that scale you reach diminishing returns on such inflation. “
Well said, you are absolutely correct. As I said, the USA is not any better off than Greece, we’ve just had more financial tricks at our disposal to keep our national Ponzi scheme running a bit longer.
I believe that the Chinese and others have taken a great deal of our land and resources as collateral for all the debt we’ve run up. The collapse of the USA will consist of our creditors taking possession of most of the country, while our citizens become indentured servants and a few elite bankers and politicians head to New Zealand with their piece of the action.