EC Nebraska | tmrand - 2/2/2024 17:44
If we all think we can keep printing dollars and trade them for other nations labor and hard goods forever..............well, let's just say that I don't agree. We fat and lazy 40+ year old Americans may not have any ramifications of doing that.............but subsequent generations will.
Well, we ARE seeing the ramifications of it. We are seeing inflation. But we could get away with low levels of inflation for a very long time, if we don't overdo it. Trouble is, we are overdoing it.
Just to clarify my position, I think that we can can keep printing dollars with no side effect other than slow inflation for a very long time to come, if we do it slowly enough. But "slowly enough" is something like deficits that are not more than 10% of total federal spending. We shot way too far ahead of ourselves during COVID, and we're still going too fast. It's not the debt that's gong to get us, exactly, it's the rate of increase in that debt. We've burned through decades worth of "safe" deficits in a couple years. That can't continue.
The only reason that we've gotten away with it this long is that everyone else is worse than us. And that will let us continue for a while. How long, I don't know. |
Doomsday deal
