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Saying that the USA is in trouble because of US-dollar-denominated debt is like saying that Dwight Schrute is in trouble because he owes too many Schrute-Bucks.
by jellicle 2y ago
Saying that the USA is in trouble because of US-dollar-denominated debt is like saying that Dwight Schrute is in trouble because he owes too many Schrute-Bucks.
https://www.youtube.com/watch?v=vPeRElll3Hw https://www.youtube.com/watch?v=vPeRElll3Hw
- paulddraper 2y agoIf all of Dwight's economic interactions run on Shrute-Bucks and he owes too many of them, then yes it's exactly like that.
- jellicle 2y agoHow can he owe too many of a thing he creates himself in unlimited quantities?
- paulddraper 2y agoDwight can, but not without consequence. If the thing he uses for all his economic transactions becomes worthless, that's a problem. --- Look no further than the steeply rising cost of living in the US in recent years.
- webninja 2y agoIt’s a huge issue because the USD is the global reserve currency. This gives many implications.