Whatever effect brrr has, it takes years if not decades to play out.
With the electorate that cannot put two and two together, the effects are unclear.
Of course, 'hiding' in bitcoin provides some solace.
Gov debt is at 30+ tril, right?
Now, imagine it at 40 tril...basically the "same" thing.
Then, 50 tril....same vibe.
It works until it doesn't....but it is unknowable when that happens.
I can see some situation developing in maybe 10 years, though, as by then the Trust fund for social security would be depleted (google it, projected numbers are from 2032-2034) and boomers would "suddenly" lose 20-24% of their social security payments. That would be a "joke" millennials could play on them in lieu of "making" most of real estate unaffordable.
That's only if you look at the US as a standalone country.
In reality the whole world is in debt and they know it's real and hard-hitting because they start to make up shit to appease the public. EU Central Bank Chair said that inflation is high because of global warming and war in Ukraine, but forgot to mention how much they printed during Covid.
In the US it was going to shit since W. Bush and Obama multiplied the country's debt. Then Trump had a great idea to lock down the country... Now Biden is sending money to Ukraine while Powell is trying to scare people by rising rates. It's not going to work!
That said, we don't really need the country to go bankrupt for bitcoin to shine. I've read that in response to BlackRock, HSBC has launched a bitcoin ETF. It starts to feel like a race.