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I wonder how the first camp reconcile their views with the current struggle Italy has with their debt caused by excessive deficit spending in the past.
by gizmondo 4y ago
I wonder how the first camp reconcile their views with the current struggle Italy has with their debt caused by excessive deficit spending in the past.
- mijamo 4y agoMostly by saying this is Italy's fault for being in the Eurozone and thus not being able to print its own money. Also the USA is in a unique situation in the world due to the status of the dollar, so comparison with other countries have very little validity. If argentina prints money it just loses value immediately and triggers crazy inflation. If the US prints money it is still not that big of a deal compared to all the dollars used everywhere in the world so the negative effects are much lower.
- TexanFeller 4y ago> Also the USA is in a unique situation in the world due to the status of the dollar I hope this remains true. I fear for the USD's status as the world's reserve currency due to our abusing it to print, our oil producing Arab allies starting to accept other currencies, our disconnecting Russia from our financial system motivating countries to try to be independent of us etc.
- yazzku 4y agoMust be sad for other countries to have an independent financial system, right?