“The problem is there is already more debt than can be serviced.”

“The problem is there is already more debt than can be serviced. That’s why they are trying to bail it out by issuing more debt. It’s like kicking the can down the road until it blows up. When does it blow up? It didn’t blow up with a $4.5 trillion Federal Reserve balance sheet. Will it blow up at $10 trillion or does it have to be $15 trillion, or does the Fed’s balance sheet have to be the size of the US GDP before it blows up? I can’t say that I know, but I do know bailing out debt by creating more debt is not a solution.” 

Paul Craig Roberts
Ph.D. in Economics