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Something that worries me is the value of the dollar, long-term. Right now the government is essentially printing dollar bills and handing them out to citizens
by dgallagher 17y ago
Something that worries me is the value of the dollar, long-term. Right now the government is essentially printing dollar bills and handing them out to citizens and companies.
Economic history teaches us that this is the correct response in the short and medium run (given our limited economic data set currently available - 100 years isn't terribly long of a time). It stimulates the economy, and keeps things from contracting "too much" like they did in the 1930's. There is a long-term cost to printing dollars, however, which could be high inflation (prices for everything increase, meaning your dollars have less buying power than before).
I'm not sure how this will all play out, but I'm sure we can all agree that it's not sustainable for a terribly long time. Maybe a year or two and that's it.
Has anyone come across anything written by an economist who has thought things out beyond the next year or two?