Quote from: Pearls Before Swine on October 07, 2019, 04:32:06 PM

Quote from: BobK71 on January 18, 2018, 02:55:14 PM

True, the US is not Zimbabwe, or Venezuela, but is a bright person like himself not aware that a dollar or pound is worth a small fraction of itself decades to a century ago?

Can't argue with that, but for example the U.S. dollar has been off the gold standard for decades. And I would point out that wages have been increasing for at least as long as we've been off the gold standard. The inflation therefore hasn't been nearly as bad as some would suggest.

On the other hand I fear for future generations if the money printing continues unabated. This kind of thing cannot go on indefinitely, and the U.S. cannot maintain its dominancy if the federal reserve keeps churning out the money. They're extremely short sighted and I have a feeling they just don't care about future generations having to clean up their economic mess.

Christ this country is fucked. (United States, that is).

That has been the case because the dollar is the world reserve currency. It gave the Fed a free ticket to print as much as it wants. Can this be sustained with China and Russia moving away from the existing status quo? If this is not sustained inflation will go up the roof in most developed countries and gold and bitcoin will become the safe heaven to store your money. One can be confiscated the other not.