Fear of inflationary default

Currency depreciation, coming our way.  That is why the one year can sit at 2.15,  a  very nice number if the implicit deflator stayed at 1.5.  If we cross zero more often, the implicit drops lower.

But zero inflation makes debt service an illiquid exercise and guv is likely to want partial default.  The worry is excessive, the partials work well when opportunistic and guv rids itself of price fixing. 

We need a senator with a clue about sandbox, helps explain, but more important, give the senators an inside track to make do-re-me, grease the transition.