Quote:
Originally Posted by Barry-xlovecam
If you want to blame someone Richard Nixon devalued the US currency twice and started high inflation probably before you were born.
But you don't understand credit and money -- the debt ratio of the USA is better than most countries. Research over the past 50 years of GNI, GDP and US federal debt. I am not going to do it for you.
It is not that bad if you consider the currency devaluation after Nixon abandoned Bretton Woods -- gold had been $38
https://en.wikipedia.org/wiki/Bretto...em#Nixon_Shock
- Gold was $38 in 1971 it's $1327 today
- $1 in 1971 is worth $0.17 today
- The DJIA high in ws 950 1971 it's 18500 today
When I look at FOREX I have to say that the US Dollar is the best of the worst. |
so its OK to go bankrupt, because other countries are doing it, too. your like a guy with a room in his house on fire, saying no big deal, because half the house is still standing, & other houses are burning worse.
your still deflecting that its not OK to deficit spend. If it is OK, why not simply issue 100 quadrillion in bonds & hand it out to the citizens? everyone will be millionaires.
what could go wrong?
