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Oh no, the US owes all this money......in US dollars.
by malcolmgreaves 8y ago
Oh no, the US owes all this money......in US dollars.
- Four_Star 8y agoWhat do you think your salary and savings are denominated in? Oh right. US Dollars
- codyb 8y agoWhat a silly thing to say. It's been less than what four decades since the US experienced rapid inflation during the oil embargo? These last few years of incredibly stable USD may have clouded your judgment, and this idea that we can just print money whenever we want is... beyond silly. We may have more leeway than most as we are the world's largest economy, the world's largest military, and the largest portion of the global reserve currency but to dismiss this so arrogantly and easily? That's dangerous. When things change, they tend to change very quickly. This is absolutely something we should be concerned about as we continue to allow our hijacked political system which benefits the few at the expense of the many to hand out humunguos tax breaks to the already inordinately wealthy among us.
- slededit 8y agoFed policy has significantly changed since then. Much of the stability is a result of the fed carefully controlling inflation. This is why they are tightening now.
- toomuchtodo 8y agoNo need to increase taxes when you can inflate away people's savings and they're unlikely to understand the difference.
- paulddraper 8y ago* Specifically the US national government owes all this money.