That’d be a double a$$ whooping.
It would be, but we are headed for unchartered territory.
We are net importers. With a crashing dollar, crude/energy will sky rocket. Luxury items will become unaffordable but to the elite. The rest of us will be buying only essentials because the cost of production and/or shipment will be so high because our enemies are conspiring to make crude more expensive to us.
Meanwhile, we won’t be able to sell the things we own, because everyone’s credit is tapped and unemployment is so high. The ugly truth is that the value of any particular asset is worth exactly what someone can and does pay for it, not a cent more.
Thus, we are reduced to merely surviving. The dollar devalues, which should cause only inflation. But production will also fall off, meaning less supply, which results in deflation. However, those manufacturers that have produced luxury items, will switch to the necessities in order to survive, thus balancing out (just a bit) that imbalance between supply/demand, but not enough to make the necessities so abundant that they are cheap.
We’re in for a royal screwing by a Kenyan Communist. And it is completely intentional.