Debt...
There are only three ways of trying to handle a mountain of unsustainable debt. The options are:
1. Maintain economic growth at a sufficient rate to service the debt. We believe this is grossly unlikely.
2. Repudiate the debt. Since we also operate within a debt based monetary system (in which money is lent into being by banks), default broadly equates to Armageddon.
3. Inflate the debt away.
Tim Price