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Recessions we know we can handle. In some ways we have been experiencing it within the last few years. People should acknowledge the possibility of worse - a de
by ilaksh 5y ago
Recessions we know we can handle. In some ways we have been experiencing it within the last few years. People should acknowledge the possibility of worse - a depression and/or world war. The extreme currency problems that some countries have had actually can come to the United States if countries like Russia and China somehow gain some mindshare or advantage that causes a global shift in favor.
And what would cause other countries to try to attack the status quo of the US global reserve currency? Severe economic recessions and/or strategic plans of their own countries. War could be the only choice the US has in order to defend it's control over the system (and therefore the currency value).
Do I think these types of scenarios are necessarily likely or on a short time frame? No. But they can't be ruled out by anyone who has taken a history course. And it's those types of really severe circumstances where preparation can make the most difference.