Without fiat money the US would be insolvent.Their debt is huge....

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Iwonder

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10/07/20

16:27

Post #: 45785156
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Originally posted by madamswer: ↑

"Would you love the US as much with one of the hated 'Dems' running the show?"

1. Who said I "love" the US?
2. How did this become a political thing, involving the "Dems"?

My view on the US's prospects has little reference to who happens to "govern" the place.
American leaders are largely neutered figureheads, akin to political celebrities.

But the prosperity of the place - current and future - is an outworking of the private sector.
Government policy, state or federal, has influence only at the margin.

Business and private sector enterprise effectively run the show.

As for the US falling into disrepair, I suspect you consume too much Western-centric media.

The US economy will recede due to the pandemic, but it will emerge just fine. It's economy has unique structural attributes to it which will render it able to absorb major global demand side shocks better than any other country around the globe.

As for "What the US has unleashed on the world in terms of their creation of the GFC with the crazy antics of Wall Street bankers...", the US Federal Reserve has not been alone in advocating and pursuing Modern Monetary Theory; the ECB, the Bank of England, the Bank of Japan and just about every other central bank with sufficiently supportive sovereign credit standing have been playing the same game.

Q: When a country increases the supply of its currency with the same velocity as its trading partners do, what happens then in terms of exchange rate mechanisms and inflation?

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Without fiat money the US would be insolvent.
Their debt is huge. Government debt is 24 trillion dollars and without giving away monopoly money they could not pay their public service.
They are broke.
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