stockstradr, you are falling into a very dangerous trap. Inflation is of course debatable and there is always more than one course. There is even a chance that we could pay back the debts, har har. We could also default on portions and pay back others.
That being said, our inflation problem is non-existant, we have a deflation problem, predicated on debt being defaulted on faster than our govt can borrow and push that money out into the economy. Europe and China have inflation problems, though they have masked them with growth.
Its all a relative ponzi scheme. At the end of the day though the system is so complex its impossible to make accurate predictions. Europe by all rights has a much bigger inflation problem than we do. The ECB has been printing like mad, relative to the US, which has been printing through borrowing.
As long as our trade partners keep lending to us, we can keep exporting our inflation. What is so weird is our borrowing hasn’t been inflationary yet our debt defaulting has been deflationary.
