[St_Thomas_Aquinas]

These IOUs written to ourselves mean nothing. Collapse is inevitable.

I prefer default to hyper-inflation.

This will mean the end of SS. Families will survive in multi-generational homes. The clan will be the means of survival, and the best defense against the government.

[Zakeet]

I prefer default to hyper-inflation.

Inflation / hyperinflation is a form of default.

Debt repudiation (the technical term for debt default) almost always leads to hyperinflation. Reinhart and Rogoff argue that external debt repudiation (to foreigners only) causes chronic (banana republic) hyperinflation while internal debt repudiation (to citizens as well) causes acute (Weimar Republic or Zimbabwe) hyperinflation. Either way, the outcome is tragic.

This will mean the end of SS. Families will survive in multi-generational homes. The clan will be the means of survival, and the best defense against the government.

Governments typically collapse in these circumstances, and the clan becomes the best defense against total anarchy. Therefore, in a broad sense, you are right.