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by momokoko
2014 days ago
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> Banning foreign investment will force them to dump dollars and treasury bonds and will accelerate the development of an alternative to it for international trade. How does this harm a working class American that derives all of their income from working wages as opposed to assets? > it will not be 6% but closer to 30 Cite and example where a country did not default/print money for their debt payments and inflation went to 30% > Yield curve control has not worked for anyone, it is a death spiral that results in zombie economies, at best. How does this harm a working class American that derives all of their income from working wages as opposed to assets? Lastly, address how any of the above prevents an increase in manufacturing jobs, which was the intent of the measures originally listed. |
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Their wage-dollars will now buy less stuff.
> Cite and example where a country did not default/print money for their debt payments and inflation went to 30%
The US has the world reserve fiat currency, so there are no examples because a fiat reserve currency has never existed before, but we know hyperinflation is a likely outcome. Now, from the experience we do have, ~30% inflation like in the 70s is the best we can hope for. A zombie economy like japan's would frankly be fantastic given the conditions.
>How does this harm a working class American that derives all of their income from working wages as opposed to assets?
Their wage-dollars will now buy less stuff.
> Lastly, address how any of the above prevents an increase in manufacturing jobs, which was the intent of the measures originally listed.
Don't worry, americans will have plenty of $1/hour manufacturing jobs like asians do now (or the nominal equivalente to $1 in a hyper-inflationary world). The US doesn't have the technical capacity or workforce to compete in high paying manufacturing any more and will take decades of pain to build.