It was during the first term of Trump when he said something like "So long as people are buying oil in US Dollars, it doesn't matter how high the debt is."
It is reckless but he is kind of right. So long as it is the hemoglobin for a sizable bulk of global trade, it can potentially go a lot higher. But that is a path that ends in tears, any time between next Tuesday and 50 years from now.
This goes well with JD Vance wanting to end US Dollars reserve currency status. Truly the robber barons can't just leave a shell, it has to be graveyard dead too.
I used to think the rise of cryptocurrencies for international transaction could decouple the US dollar enough to limit the ability to create too many bonds or too much quantitative easing, butt then stablecoins got popular, and they really like to link to USD.
Since we run a deficit and aren't paying any of it, in less than 14 yrs the debt will double just because of interest accumulated. I think I'm being generous. It will probably take way less time. This can't continue.
People can't see the exponential. That is why they think there is time. There is no time. Current play goes like this double the size of the stock market asap think trillion dollar new companies. Increase revenue through increased capital gains. Hope that this works before a forced default.
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[ 0.24 ms ] story [ 18.0 ms ] threadIt is reckless but he is kind of right. So long as it is the hemoglobin for a sizable bulk of global trade, it can potentially go a lot higher. But that is a path that ends in tears, any time between next Tuesday and 50 years from now.