Indeed. A total meltdown.
Might be awhile though. The powers that be have figured out how to kick the can down the road very well. Just look at Europe. They've solved nothing since the debt crisis began, but they've managed to buy more time at will. Eventually the entire house of cards will fall, but it could be a long time.
You’ve hit on the most important question.
When does it auger in, and will it be inflation or deflation on the way.
How long can the Fedgov spend $1.40 for $1 in income by creating Baraqqi/Bernanke/Geithner electronic bucks?
Now in retrospect, I bet you think trying to keep the B@stard of the ballot was a really dumb idea, wasn’t it?