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Visiting John Forster(username: sturdibox)
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Inflation - why it won't help Sovereign/National Debt
On the idea of Inflation as a way of solving sovereign debt? I think there are three reasons that is not a solution at all.
1. First, Sovereign debt and creation of new money is not absolutely linked. Governments don't increase money supply, Banks do. Governments don't HAVE to borrow from banks, they could borrow from money-holders who have to give up the use of their money during the loan.
2. As inflation ramps up, the prices of everything the Government is purchasing with the borrowed (presumed-new) money is going up as well, so the savings expected by collecting more units in an inflated future-money scenario is offset by the fact they have have to spend increasing units just to maintain.
3. What we call 'inflation' now is not really inflation, otherwise my wages the last 7 years would have also gone up 5-9% each year instead of 1.1%. If wages are not tracking up with the prices of tuition, food, oil, rent, etc. then the government is NOT going to be collecting more taxes to have those expected 'more' units to make paying off old borrowings easier.
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