In 1993, there was a famous book called "The Great Reckoning" which talked about the upcoming collapse. The tone of the book was the collapse would happen within five years.

In 1994, I took an economics course which taught (or tried to teach) me about modern monetary theory. Pretty abstract subject, but I could see how national debt could be manipulated to continuously run at deficit--------------forever.

The authors of "The Great Reckoning" are 30 years wrong. But, are they?

I can't say I understand qualitative easing, but I can't see how we can go forever in this way.