There’s only one escape from our debt trap – Telegraph

Via Edmund Conway at The Telegraph we learn that the debt today cannot be inflated away:

In fact, around four fifths of the state’s debt bill is inflation-proof. The only way ministers and mandarins could inflate their way out of the crisis would be to rip up all the contracts that tie these debts to inflation: possible in the case of the state pension (which is one reason why Gordon Brown’s pledge to link it to earnings is probably doomed), difficult for all the rest.

Thankfully, James Tyler has explained How to deal with the Banksters, a proposal in the tradition of Fisher, de Soto and others which just happens to deal with the debt too.

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