> But I wonder for how long this can be stretched? A century more? What's the future of the state as an institution? The UK not too long ago refinanced debt da

> But I wonder for how long this can be stretched? A century more? What's the future of the state as an institution? The UK not too long ago refinanced debt dating back to the South Sea Bubble (1700s), the Napoleonic wars (1800s), World War One (early 1900s): * https://www.theguardian.com/business/2014/oct/31/uk-first-world-war-bonds-redeemed https://www.theguardian.com/business/2014/oct/31/uk-first-wo... The UK's debt-to-GDP has on multiple occasions gone over 150%, and on one occasion (WW2) almost reached 250%: * https://en.wikipedia.org/wiki/United_Kingdom_national_debt#Modern_era https://en.wikipedia.org/wiki/United_Kingdom_national_debt#M... Most of the issues that the UK has faced have generally been non-monetary (foreign enemies) or self-inflicted (Brexit). Don't know off-hand when the UK last ran surpluses and could actually pay down debt principle.