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When the can meets the end of the road the ways out include - Hyperinflation - Great reset Likely effects may include - Revolution - War - Famine Here is

When the can meets the end of the road the ways out include - Hyperinflation - Great reset Likely effects may include - Revolution - War - Famine Here is a nice BBC article how hyperinflation has been solved in the past https://www.bbc.com/news/business-45523636 https://www.bbc.com/news/business-45523636 Usually there is a period, or permanent, “dollarisation” of the economy https://en.wikipedia.org/wiki/Hyperinflation#Aftermath https://en.wikipedia.org/wiki/Hyperinflation#Aftermath but not sure if this is an option for the something of the scale of the UK or the EU.

markdown 4y ago
What's "great reset"? Is that economics jargon?
- nirimda 4y ago
  It normally means "something something conspiracy theory", but it's actually the name of a post-covid economic recovery plan: https://en.m.wikipedia.org/wiki/Great_Reset https://en.m.wikipedia.org/wiki/Great_Reset I struggle to understand what they might have meant by it in that kind of generic use.
- erichocean 4y ago
  https://www.weforum.org/great-reset/ https://www.weforum.org/great-reset/
nirimda 4y ago
I don't think a GBP or EUR hyperinflation would introduce any genuinely novel limitations of dollarisation. If the GBP hyperinflates, you won't need to dollarise something of the scale of today's UK. Their economy will be worth a lot less. If it lasts for long enough, Scotland, Northern Ireland and perhaps even Wales will organise different problems for themselves. There would also be a humanitarian crisis and a migration/refugee crisis to help reduce the scale. On the other hand, the dominance of English, traditional respect for UK education, and the capacity of services to be delivered remotely would encourage an early dollarisation: all sorts of law firms and programmers will be asking for salaries in the currency of the source country. So I suspect the UK would dollarise more quickly and more successfully that other similar disasters. The eurozone is somewhat uniquely placed in the context of a hyperinflation, because there are many separate countries who would, in that context, be enthusiastic to reintroduce national currencies. Whether that staves off the problems in the whole zone or what happens I don't know, but it might break it down into bite-sized chunks.

markdown 4y ago

What's "great reset"? Is that economics jargon?

nirimda 4y ago
It normally means "something something conspiracy theory", but it's actually the name of a post-covid economic recovery plan: https://en.m.wikipedia.org/wiki/Great_Reset https://en.m.wikipedia.org/wiki/Great_Reset I struggle to understand what they might have meant by it in that kind of generic use.
erichocean 4y ago
https://www.weforum.org/great-reset/ https://www.weforum.org/great-reset/

nirimda 4y ago

I don't think a GBP or EUR hyperinflation would introduce any genuinely novel limitations of dollarisation. If the GBP hyperinflates, you won't need to dollarise something of the scale of today's UK. Their economy will be worth a lot less. If it lasts for long enough, Scotland, Northern Ireland and perhaps even Wales will organise different problems for themselves. There would also be a humanitarian crisis and a migration/refugee crisis to help reduce the scale. On the other hand, the dominance of English, traditional respect for UK education, and the capacity of services to be delivered remotely would encourage an early dollarisation: all sorts of law firms and programmers will be asking for salaries in the currency of the source country. So I suspect the UK would dollarise more quickly and more successfully that other similar disasters. The eurozone is somewhat uniquely placed in the context of a hyperinflation, because there are many separate countries who would, in that context, be enthusiastic to reintroduce national currencies. Whether that staves off the problems in the whole zone or what happens I don't know, but it might break it down into bite-sized chunks.