Inflation credibility and debt forgiveness

If Central Banks are so averse to heightened inflationary expectations in order to protect their proclaimed and hard won spoils of battle then another way to tackle the consumer demand problem is to direct efforts at the heart of the problem. Households still suffering from their indebted balance sheets should through a combination of government financed programs and financial industry initiative agree on a level of debt forgiveness. It should be remembered that the tax payer saved Wall Street salaries and bonuses and it is high time for payback. A small attempt at redistributing wealth in order to provide/ create a healthier footing to the US Economy at large.  

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