If the US dollar collapses, what would that look like here in the US?

[kyzr]

If the US dollar collapses, what would that look like?

1. The cost of imports explodes

2. Inflation explodes

3. Credit dries up, credit cards have tiny limits

4. The quality of life in the US takes a major downturn, there is no middle class, just survivors, Breadlines? Homeless? Criminality?

If the Republicans fail to pass the BBB, and the Fed does not lower interest rates to help the economy grow, and the Debt keeps increasing, and rating agencies keep downgrading US debt, and the US can't pay the interest on the debt, the dollar will collapse.

 

[JLW]

If what you write comes to pass, then welcome to Argentina.

 

[kyzr]

If what you write comes to pass, then welcome to Argentina.

I was picturing Venezuela. Oil money for a few oligarchs but not much else.

 

[shockedcanadian]

If the US dollar collapses, what would that look like?

1. The cost of imports explodes

2. Inflation explodes

3. Credit dries up, credit cards have tiny limits

4. The quality of life in the US takes a major downturn, there is no middle class, just survivors, Breadlines? Homeless? Criminality?

If the Republicans fail to pass the BBB, and the Fed does not lower interest rates to help the economy grow, and the Debt keeps increasing, and rating agencies keep downgrading US debt, and the US can't pay the interest on the debt, the dollar will collapse.

Worse, the world will no longer pursue your dollar in global trade. This would undermine the entire U.S global strategy.

Hence, Musk if absolutely correct, your politicians HAVE to cut spending.

I listened to DeSantis and he made perhaps the most libertarian comment I have heard from him. He said that you need 2/3rd of Congress or 2/3rd of the states to change the Constitution. He suggested term limits for Senators.

This is absolutely necessary if the United is to remain the world leader. You need term limits in your Senate.

If not, I fear the U.S is going to become insolvent. Perhaps earlier than we might anticipate and the Establishment would love to be able to blame Trumps terms. Right now, if he continues the spending, his two terms along with Bidens will go down in history as being major contributors. His legacy judged accordingly.

 

[kyzr]

Worse, the world will no longer pursue your dollar in global trade. This would undermine the entire U.S global strategy.
Hence, Musk if absolutely correct, your politicians HAVE to cut spending.

We need a $2T surplus, $1T for interest on the debt, and $1T to start paying the debt down to get us away from the precipice.

I listened to DeSantis and he made perhaps the most libertarian comment I have heard from him. He said that you need 2/3rd of Congress or 2/3rd of the states to change the Constitution. He suggested term limits for Senators.
This is absolutely necessary if the United is to remain the world leader. You need term limits in your Senate.

I don't see why only term limits only for senators? I like 12-years for both House and Senate members. We have a Convention of States being called as soon as we get enough states to sign on. That would be the time to implement term limits.
Convention of States Action

If not, I fear the U.S is going to become insolvent. Perhaps earlier than we might anticipate and the Establishment would love to be able to blame Trumps terms. Right now, if he continues the spending, his two terms along with Bidens will go down in history as being major contributors. His legacy judged accordingly.

One thing I am sure of, if the dollar ever crashes there won't be finger pointing, there will only be "weeping and gnashing of teeth".