Actually, since debtors are part of a large constituency, the creditor is a slave to the debtor. In other words, the frugal and the productive are slaves to the wasteful and sloths. Vote for me... I'll wipe out all of your debts (including the government debt) with inflation!
Many productive people have gotten suckered into the debt trap too. Not to mention many people who never took out debts that couldn’t sustain will see their mortgages go underwater too as overall real estate prices decrease.
My career was spent in finance and commercial real estate. One of the reasons I left the industry when I did is I knew it was coming. I didn’t know when but I knew California had begun its collapse by late 2006. I got out in time. Many people didn’t
It was the system itself that was sick and the problem is that all of America’s economic energy got tangled up with the investments. That’s why it albatrossed our economy. You may not like inflation. I don’t. I stand to lose a very large nest egg with high inflation. But that high inflation may be necessary to keep the country from collapsing.
“Vote for me... I’ll wipe out all of your debts (including the government debt) with inflation!”
Clearly the Weimar Republic nor any other hyperinflationary scenario you can point to, mean anything to these IDIOTS.