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Or proves, like many a previous crash, that there are still bugs in the de facto software that is the financial system. Patch, continue, hit the next-- but gro
by pg 18y ago
Or proves, like many a previous crash, that there are still bugs in the de facto software that is the financial system. Patch, continue, hit the next-- but grow overall.
At least we know now not to debase the currency; it took the Romans a couple hundred years to learn that didn't work.
- rsheridan6 18y ago>At least we know now not to debase the currency; it took the Romans a couple hundred years to learn that didn't work. I wouldn't be so sure of that. I think debasing the currency DID work in the short run to solve whatever crisis the emperor had to deal (no funds to pay the troops, etc), despite the negative long-term effects. Modern politicians could get similar short-term benefits - voters would probably prefer debasement to tax increases because the problems caused by debasement aren't as obviously linked to it as larger withholdings on a paycheck are to taxes. It may become tempting for American politicians to debase the currency to reduce the massive debt we've accrued.
- eru 18y agoIsn't the Dollar already getting debased? (At least compared to other currencies. The FED's interest rates have been low for quite some time.)