It would be interesting to run the numbers on a jubilee for certain kinds of debt. I realize monetary policy of inflation is in-effect a debt jubilee, as it wa

It would be interesting to run the numbers on a jubilee for certain kinds of debt. I realize monetary policy of inflation is in-effect a debt jubilee, as it was applied to the boomer generation in the 70s and 80s. Since diminishingly few people keep their savings in cash (instead of putting into homes, durable goods, index funds, etc), inflating away debt seems like an inevitable policy outcome. In the US, if the democrats don't do it next term with MMT, the republicans will do it with negative interest rates. It's not just a partisan issue, and it seems like there is no alternative. The main problem is that without supporting the bottom end with a minimum wage increase to match inflation, it will just be a middle class debt bailout, and the precariat will remain as screwed as they always were. Approaching this by funding a minimum income with a new VAT doesn't improve the their situation since it just subsidizes exploitation by subsidizing disadvantaged wage levels. The horror is that it's going to come down to less of what's right, and more of finding people to screw who are less likely to vote. It's a grisly business. These Capital One people were just following orders, as the saying goes, but unsecured debt is a form of slavery. Not sure how long people will accept incremental quality-of-life improvements in slavery, but at least now we have entertainment, software, and high speed pizza delivery. Suddenly, those land parcels in New Zealand are looking more appealing.