Quote:
Originally Posted by parttimepro
This sounds a lot like moral wishful thinking -- Americans, and Boomers in particular, have lived beyond their means and must inevitably be punished. The world doesn't work that way.
More particularly, the national debt is already being monetized. The Fed owns $2.4T of it, and is currently buying $700B of our annual $1T deficit. Why hasn't the disaster happened yet?
I'm not saying it can't happen, or never will. I genuinely want to understand why this type of thing hasn't caused inflation here or Japan or Europe.
My completely uneducated opinion is, the US has enormous debt capacity, more than we realize. Go look at when the largest debt to gdp ratio was, look where it is now. But more likely, what AC said, we are better shoppers, and business can and do operate on smaller margins, due to ease of entry for competitors in the digital market place. No brick and mortar.
Last edited by itshotinvegas; 12-21-2019 at 02:29 AM.