NEW YORK, NY April 15 (DPI) – Wall Street Journal readers reacted to the latest suggestion that federal debt levels no longer matter with a nearly unanimous declaration that “this will not end well.”

US government debt levels have skyrocketed in recent years to about $27 trillion – more than all of US GDP – prompting more and more economists to suggest that “this time things are different” as inflation remains in check and global demand for US debt securities remains strong. A news report in the WSJ today trumpeted: “US Debt Is At a Record High, But The Risk Calculus is Changing.”

Readers, though, remain skeptical. The top rated comments:

I really don’t know how this can end well. But I’ve been saying that for a while, so I’m afraid I’m sounding like chicken little. But the debt was $5 trillion in 2000. It took 224 years to get to that point. 21 years later, $28T. Just seems crazy to me. I’ve always thought the laws of economics are like the laws of physics, just slower. I still think there’s going to come a reckoning. And it just seems crazy that NO ONE seems to care that we just keep printing $$$..

“This time is different” 

Ah, Modern Monetary Theory!
It’s not
*The sky’s the limit*
but
*There is no limit.*
I submit we will know the answer soon enough and probably sooner than we would wish, but at least we will have the “pleasure” of witnessing the first true *blow off top* in U.S. equities ever.
(15%, 20%, 25% in sequential months totaling a compounded 2/3 in 90 days for the S&P500 perhaps. Now wouldn’t that be special, on the upswing only of course. On the downdraft, not so much, unless of course one is leveraged short.)

Now, who’s up (or is it *down*) for picking the inflection point in this wonderful little game?

Deficits gone wild and resultant massive Debt will have the greatest consequences for those playing by the rules of working for a living, providing for family and saving for retirement.

 For now we are experiencing simple unreported inflation as is always the case when currency is devalued by excessive printing. Next will be our monitory collapse resulting in loss of a lifetime of work————-all in the name of Modern Monetary Theory brought to us by know-nothing politicians.