More than anything else, this will cause some fiscal conservatism on the U.S.Government. With the dollar way down against other currencies, and no longer a “reserve” currency, our imports will of necessity drop and our money supply will have to tighten up.
The successive US Congresses have utterly failed in their obligation to:
Art 1, Sec 8, Cl 5:
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures
Can someone tell exactly what this means?
who can blame them? I know a lot of folks believe government cpi numbers and find it hard to believe such a political and monetarily important (cola raises) number would ever be subject to political consideration in its production, but maybe with the dollar down 15% plus across the board the last year, folks will notice prices rising faster than they are being told.