Government Debt Crisis: Why Inflation Is The Only Way Out

Government debt levels in the United States and other major economies have reached a point where the only politically viable exit is sustained inflation funded by money printing, according to Felix Nikolas Prehn, economist and former investment banker. The episode traces how the US used the same approach after the Second World War and in the 1970s, and how Japan has run a version of it since the 1990s. Felix examines the rapid growth in M2 money supply, the concentration of stock market gains...