Deal Hunter wrote: Technically, there is a way to escape debt. In 1929, the government stepped in and paid it off for everyone.
Mean Reversion wrote: It will be paid in full. But the value may not be the same.

That’s exactly my point, guys. It has to be paid, either by the debtors, by the creditors or by the government ( which means the rest of us through taxes and inflation). Apparently, each party will have to pay some of it. We will see who will end up with the lion’s share.
Because the enormous amount of debt, I don’t believe it’s possible to write it all down through inflation – that will cause even worse problems. Even BB understands that (although he pretends he doesn’t).