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To: Travis McGee; Fury
"Maybe because 3,000 years of recorded human history now points conclusively to the dollar being one more in a long series of currencies going bust?"

You say that like it's a bad thing. If it takes a wheelbarrow full of cash to buy a loaf of bread, then it will take a freight train full of cash to buy your house...the opposite of a housing "real estate crash."

If your currency is near-worthless, then you can't buy a bunch of imported Chinese crap, either. Suddenly the trade deficit goes away.

People start making their own bread (easier than carting around a wheelbarrow full of cash). Factories start producing things *here* rather than in some 3rd world sweatshop.

And everyone with a home mortgage gets to pay it off with worthless money...by the wheelbarrowfull.

Look around, Americans have a lot of debt. Well, if the Dollar crashes so far that it's about worthless, then all of that personal, car, home, and credit card debt gets paid off for just about nothing. You sell one loaf of bread for a wheelbarrow full of money and suddenly you've got enough cash to pay off your home mortgage.

I suspect quite a few people could live with that sort of "catastrophe."

83 posted on 03/22/2006 8:58:51 AM PST by Southack (Media Bias means that Castro won't be punished for Cuban war crimes against Black Angolans in Africa)
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To: Southack

Great Depressions don't happen without a lot of pain. Yes, we will (hopefully) be tougher on the other side, but the risk of complete social collapse leading to anarchy or martial law/dictatorship cannot be ruled out.


84 posted on 03/22/2006 9:09:13 AM PST by Travis McGee (--- www.EnemiesForeignAndDomestic.com ---)
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