I'm always beachside LOL. You know all those debts will be inflated away at some point. All those war bonds that paid for WW2 were being redeemed in the early 70s, causing the huge surge in inflation. Oil went crazy at the time because it's a physical hedge like gold. Volker broke inflation with 20% interest rates in 1981 and China brought us low inflation by killing pricing power of horrible US made junk (see anything worthwhile from the 70s still around?) That worthless junk was inflationary, too, causing the need for frequent repurchases.
The Fed saved the country in 2008 (probably Canada, too) by doing what the government should have done in 1873 and 1929, i.e. fixing the crisis with money via assets purchases. The asset purchase part was brilliant and I marveled at it when it hit the news. Then they got rid of the mark-to-market problem (those debts the banks have hidden) And I shoved everything back into the market that very day. I laughed at a tea party protest I saw at a 4th of July public picnic in 2009. If they had been running the country... endless depression.
The Fed has discovered it has unlimited power, as the one who holds the purse strings always has. They need inflation to clear the debts but technology is replacing workers (consumers) at an endless pace. It is my belief that they will cure the low inflation in order to cure a future debt crisis by introducing a universal basic income, making the rich richer via those new consumer dollars. They will hope inflation rises which they will control with interest rates after the debts are wiped out by inflation as were the WW2 debts.
I am still in the market but have switched to broader based products I can liquidate immediately. And if the basic income comes to pass, I'll buy a few more rental properties since everyone will at least have rent money. Stocks will eventually catch up, too, like Aug. 1982 following the end of stagflation 1974 - 1981.
Take care.
