Until the default and inevitable loss of reserve currency status. The 35% haircut and fiscal re-organization will favor the makers over the takers. Pensions and social services will be hit hardest.
“The 35% haircut and fiscal re-organization will favor the makers over the takers. Pensions and social services will be hit hardest.”
As long as the makers are competing with cheap foreign labor, I don’t see much gain there. In terms of pensions/social services, they are already being hurt by the unofficial inflation that is increasingly eating away at the makers’ incomes.