The solution now to the enormously ballooning debts in developed economies: Firing up consumer price inflation and letting it run hot, according to the newest dogma trotted out incessantly by the Fed and other central banks, and hope that rapid economic growth will take care of the rest.
The US federal government debt alone has ballooned by $3.5 trillion in just eight months, and by $4.2 trillion in 12 months, to a breathtaking $26.7 trillion today:
Rising inflation and high economic growth worked during the decades after the Second World War in bringing down debt