At recent Mauldin SIC conference David Rosenberg said this:
David said, “There ultimately will be a debt jubilee. And it’s got historical connotations as well. This will happen in the next cycle. We will basically have a situation where the Fed and the Treasury will do a swap. And then we’ll move on, reset the button, and we’ll be talking more about inflation then, than we are today. But that’s for another day.”
What does that actually look like? What will effect does it have on everything?
I can't find any info on this and would like to hear your take on this.