I've tried to debate him on it several times, and he's never offered any answer apart from "we won't have our margin called" or something like that. He thinks we are above debt implosion or currency debasement. Lots of countries once thought that, all the way back to Rome. I mean, just look at the personas on this site saying it doesn't matter: RCG. Iceman (lol, i can't say that to myself without a giggle), AK, and Ricter. They never give why it doesn't matter, they just say "don't worry, go back to to the side show."
I think they are looking at Japan with 200% + debt to GDP. But even suffering a Japan like lost decade(s) would be a disaster for us and the world.
Not that I expect them to actually go learn anything on the subject, but the reason Japan was able to do it for so long was that they were a net exporter. They ran a positive trade balance. That changed late last year for the first time in a long time (if ever, I don't recall). Now they're screwed as they realize they cannot be a net importer and print/spend into eternity and make it out alive. That's why you're seeing them try to weaken the Yen so openly. It won't work.
======================= Good points James. Dr Ben Carson seems much more wise than Herman Cain; + some of us speculated many of the death threats Mr Cain recieved was from the women he abused/harassed.Dr Ben Carson has had no such baggage for many years. Thanks for article PSPR, makes a lot of sense