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EC Nebraska | Some level of inflation is necessary for the dollar to function as a global currency. If it were “as good as gold”, then Gresham’s Law would take it out of circulation and the US wouldn’t be able to export anything. We’d barely have a functioning economy.
That’s not to say that we haven’t gone too fast in the other direction. Half trillion dollar deficits would be better than multi-trillion deficits. But half trillion federal deficits are better than a balanced federal budget. | |
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Gold on a tear post. Just a thought.
