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I agree. I think the reserve-currency status of the US places it in a position where inflating out of debt will be less devastating than in other parts of the w
by jstalin 15y ago
I agree. I think the reserve-currency status of the US places it in a position where inflating out of debt will be less devastating than in other parts of the world.
- CWuestefeld 15y agoYou're probably right. But what happens after that? On one side of the coin, people see that investment in US debt isn't so safe as they thought. Thus, borrowing becomes more expensive for the USA. On the other side of that coin, America will have mostly escaped the really bad consequences of its behavior. I submit that we will not learn our lesson from it, and won't alter our behavior in any meaningful way. I see those two things combining in a really vicious cycle.