The escalating feud between Trump and Elon Musk just went to the highest level when the former DOGE leader called for the impeachment of the sitting president.
There’s no scenario where we can’t pay debt denominated in our own currency, unless the government chooses not to pay.
Well, yeah, but having an exponentially inflating debt leads to hyperinflation which makes the dollar worthless, and that has real-world consequences.
I think if the dollar loses its value, society will jump to another alternative payment method, maybe crypto or sth else entirely, and that would be worse because it means you end up without state control. I.e., it is like having no state regulations anymore, and then who protects the citizens from corpo’s overreach? A lot of regulations are tied to things-being-measured-in-dollars. Like corporate taxes, or social security.
Well, yeah, but having an exponentially inflating debt leads to hyperinflation which makes the dollar worthless, and that has real-world consequences.
I think if the dollar loses its value, society will jump to another alternative payment method, maybe crypto or sth else entirely, and that would be worse because it means you end up without state control. I.e., it is like having no state regulations anymore, and then who protects the citizens from corpo’s overreach? A lot of regulations are tied to things-being-measured-in-dollars. Like corporate taxes, or social security.