Holy bend over and cough Batman! M2 vs the Fed!
This won't be a long post! It's meant for you to research a few things for yourself.
According to m2 data, the total amount of US dollars floating around in the world is about 8 trillion dollars. Realistically it's closer to 7 trillion dollars, but we'll go with 8 for these purposes. Our debt is over 12 trillion dollars. So realistically, if we wanted to pay off everything that we owe tomorrow, we could pay it off with 50% inflation if we were willing to give up the country's entire historical productivity. This doesn't include the debt of the Fed though! The Fed has another 2 trillion dollars of debt on their balance sheet. So if we go back to my original estimate of m2 at 7 trillion and a total debt of 14 trillion including what the Fed owes, we could trade every accomplishment we have ever made as a country and 100% inflation for the chance to break even.
HAPPY THANKSGIVING EVERYONE!
(especially you tiny Tim!)