Reply #11: The won't become worthless.. [View All]

[sendero]

... it will only be worth less.

What is really going to happen is:

1) Everyone's standard of living (except for the truly rich) is going to drop. Not to third world levels, but not unoticably either.

2) Imported goods are going to rise in price, and we are going to buy less of them

3) The immutable laws of nature (i.e. money supply) are going to force their will on us and we are get over the idea that living on debt is sensible or even responsible or even possible over the long term.

4) Use of the dollar as the world's reserve currency is no longer a guaranteed fact.

and finally, a silver lining:

5) All but the stupidest Americans are finally going to realize that all of the Republican talk of being the true economic stewards is a damned lie, and the outlook for the Republican party will be hurt more by the coming economic troubles than even their pointless war.