> Reminder: $250t debt is $250t assets on someone else's balance sheet. The money is not owed to aliens but to other humans. The problem is there is no guarant

> Reminder: $250t debt is $250t assets on someone else's balance sheet. The money is not owed to aliens but to other humans. The problem is there is no guarantee that those assets on the balance sheet are actually real. This is a global aggregate which is owed from humans now to humans in the future, and using micro-scale accounting identities isn't appropriate. Those graphs are indicating that real production is insufficient to meet future consumption. When that happens, there are serious consequences. Those consequences can take the form of deflationary writedowns, an inflating currency, or a combination of both. Whatever the case, the the people of the future don't get the results the people of the present have promised.