Is Technology Helping?

The answer is going to be technology. The issue is we've financialized most of it, so we didn't actually create anything with the debt. Do you want to run it with inflation where asset prices go down and optically it feels bad? Or do you do it the cheeky way which is to run negative real rates and asset prices go up, even though nobody actually gets richer? And my guess is they'll probably try and do that if they can.