The interesting thing about the current debt spiral is that it has a global character. In addition to the USA, which has dropped all fiscal discipline under Joe Biden's government, the chronically interventionist European Union and the fiasco that is Japan, it is striking that the debt of both the private and public sectors has also spiraled in China. The fiat devaluation is programmed, safe havens in Fiatlandia seem to have sunk! Find your lifeboats!