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It’s a pyramid scam that the fed won’t allow to fail. But one day we will run out of money to print, and it will indeed catastrophically fail. Young people are
by cwhiz 6y ago
It’s a pyramid scam that the fed won’t allow to fail. But one day we will run out of money to print, and it will indeed catastrophically fail.
Young people are correct to outright reject this. We’re kicking the can down the road so that boomers can have one last hurrah.
- adammunich 6y agoSo what's next?
- Aunche 6y agoThe US economy is inflated, but US treasuries are still in high demand and we might as well milk it for what its worth. The US is like the lannister’s of the world in that they’re rich because they always pay their debts (historically, their bonds have been the most stable.) Allowing, the economy to collapse basically denies us this otherwise free money and helps no one, besides those who fill the power vacuum, which could very well be big corporations.
- adammunich 6y agoYou raise a /very/ good point. But I worry that it is not working in a way that's favorable to those who rely on cash holdings (most people) for their budgeting and daily goals.
- rmah 6y agoPoor people, sort of by definition, do not have "cash holdings". They tend to live paycheck to paycheck or are in debt. Inflation helps debtors. And wages do tend to rise with inflation, albeit with a delay.