First, thanks for such an informative article.

When you add that to the national debt and private debt, there really is no way out within the current 'way things are'. Debt became the functional core of the economy during the 1980's.

There will have to be a different monetary paradigm at some point, either to prevent collapse or following it. Surely we can all agree that implementing a new paradigm before collapse occurs would be the better option.

I have (fully) developed an alternative monetary paradigm. (For the record, I do have an M.A. in economics, with a focus on money.) It can be implemented within the existing economic system (in any nation).

if curious: "A Most Beneficial Economic Change" (a "2 min read" here in Medium with links to several articles that approach the proposal from different economic angles, none of it behind the paywall)