Is There a Political Choice?

Myae: I believe what we're going to see is a combination of financial repression and inflation as a way to reduce the relative debt burden on society. Default has been tried before, it tends to produce a crushing contraction in your economy. And if you go for the default, then people start losing great big chunks of their assets. They themselves might be geared and the for they find themselves in problems. So i think the lesson from that for policy makers is to be rather concerned about defaults... You can then use hyper inflation. That'll get rid of your dead burden pretty quickly. But as lord keens famously said, that is a random realication of wealth, which not one man in