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by nine_zeros
2017 days ago
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Those links don't even go to the dates of US defaults in 70s and 30s. > We, and also other countries, can have fairly big currency changes without much internal inflation or deflation(can depend on country size). A number of countries have actually deliberately devalued their currency in order to encourage growth. This is all applicable to the reserve currency or massively exporting countries. Not to importing countries, which the US is. The US cannot stop importing without causing massing inflation at the retail counter. No more $10 t-shirts and $100 sport shoes if they are made here. I would recommend reading the article to truly understand how subsidized our lifestyle is. |
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