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Of course it won't. Worst case scenario, if the economy tumbles, the government prints money to pay debt, inflation happens, confidence is shaken and the econo
by Mikeb85 7y ago
Of course it won't. Worst case scenario, if the economy tumbles, the government prints money to pay debt, inflation happens, confidence is shaken and the economy slows. But at the end of the day, an economy is characterised by its ability to produce things and keep people busy (working). Money is simply the value of labour and production shifting hands. The nominal value doesn't matter as much as the real value (ie. the shit that's actually being produced).
- Ambele 7y agoIf you believe that inflating the debt away is a viable strategy then I have a 100 Trillion Zimbabwe dollar note to sell you for 40 cents. The Zimbabwe government tried that and look at what happened to their dollar! Also, I have a loaf of bread to sell you for $1,000. Nowadays, America's largest export isn't soybeans or corn, it's the American Dollar. See this link for more info on the Petrodollar: https://www.thebalance.com/what-is-a-petrodollar-3306358 https://www.thebalance.com/what-is-a-petrodollar-3306358