Personally, I am tired of comparing Republican congressmen to drunken sailors. First, it is an insult to drunken sailors. Second, most drunken sailors only spend what money they have in their pockets. If Congress could accomplish this the country would be in much better financial shape.
"Personally, I am tired of comparing Republican congressmen to drunken sailors. First, it is an insult to drunken sailors. Second, most drunken sailors only spend what money they have in their pockets. If Congress could accomplish this the country would be in much better financial shape."
There is no anchor, or drag, on what can be spent. Since the dollar is not tied to anything real, just the promise of government to pay it back, they have gotten around the problem of printing free money.
How this ends is when the people who are elegible to vote for a given government lose confidence. If there is some grand disillusionment, the government will not have the credibility to print more free money, what dollars are in circulation will not equal what is owed, and we'll all be in a lot of trouble. Hopefully you own valuable material items or property when that comes, and that the concept of private property is still honored.
And the way economic depressions have happened in the past, it's not possible to shield against, say, a country like England tanking economically. Global finances are intertwined.