U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says

Re:U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says by tomcam on Sunday March 22, 2020 @06:11PM (#22659208)

It would all be put on the credit card, like the $23 trillion we owe at the moment. Might be another, let’s say, $4 trillion.

The only ways to get out of that number are defaulting on the debts, which would greatly harm pension plans and other countries, or inflate our way out it, which could easily lead to hyperinflation, which would ruin pension plans and the world economy.

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Re:U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says by cultus on Monday March 23, 2020 @09:48AM (#22664054)

The government can print money, and buy back the debt. Excessive inflation only occurs when the combination of private and public spending is chasing after too few goods. We've been deficit spending like crazy for years and the inflation rate has been too low if anything.

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Re:U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says by brianwawok on Sunday March 22, 2020 @09:14PM (#22660388)

It’s too simplistic to call it a credit card.

If I spend more than I earn, sure it goes on a credit card. I have to find a way out.

If a country that prints money spends more than it makes... it can print more.

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