Yes, the national debt is increasing, but from 2000 to 2020, the percent of federal debt owned by the Fed increased from ~11% to ~18%. [0] That is hardly uncontrolled money printing. Private investors are still buying the bulk of treasuries despite the low interest rates, because they're extremely safe investments. I do believe that inflation will pick up a bit, especially for assets vs. consumables, but I don't buy the idea that we'll see anything much worse than what was going on in the 70s or 80s.
As far as the size of the debt, we're close to where we were in terms of debt to GDP ratio after World War II, but the cost to the country in terms of GDP of maintaining the debt has held fairly stable throughout modern history. [1] Considering the historically unprecedented impact of COVID-19 and the cost of dealing with the crisis, a temporary bump in debt is totally unsurprising to me, especially with how cheap it is to borrow.
I don't have a strong opinion on whether crypto will hold value well over decades or not, but I find arguments that crypto's rise is inevitable because the collapse of the USD is inevitable to be particularly unfounded.
Yes, the national debt is increasing, but from 2000 to 2020, the percent of federal debt owned by the Fed increased from ~11% to ~18%. [0] That is hardly uncontrolled money printing. Private investors are still buying the bulk of treasuries despite the low interest rates, because they're extremely safe investments. I do believe that inflation will pick up a bit, especially for assets vs. consumables, but I don't buy the idea that we'll see anything much worse than what was going on in the 70s or 80s.
As far as the size of the debt, we're close to where we were in terms of debt to GDP ratio after World War II, but the cost to the country in terms of GDP of maintaining the debt has held fairly stable throughout modern history. [1] Considering the historically unprecedented impact of COVID-19 and the cost of dealing with the crisis, a temporary bump in debt is totally unsurprising to me, especially with how cheap it is to borrow.
I don't have a strong opinion on whether crypto will hold value well over decades or not, but I find arguments that crypto's rise is inevitable because the collapse of the USD is inevitable to be particularly unfounded.
[0] https://fredblog.stlouisfed.org/2018/04/whos-buying-treasuri... - expand and compare Q4 2000 to Q4 2020. [1] https://fred.stlouisfed.org/series/FYOIGDA188S