Posted by kyhayman on November 24, 2008 at 13:51:15 from (75.104.128.57):
In Reply to: OT/Value of USA posted by northener on November 24, 2008 at 11:34:30:
Infinite value since the government has the infinite ability to print money.
At what point that money becomes worthless is a moving target. When we were a fat, lazy, has been world power bogged down in an expensive and unpopular war with stagnant growth, and financing our extravagence with debt we werent a very good bet, hence the takeoff in inflation. Now that the global economy is in the tank and we are the safest bet in town, people all over the world are beating down the door to own 3 month T-bills. Nothing changed but perception. Sort of like supply and demand..... its rarely supply and demand that drives prices, its the perception and predicition of supply and demand.
As to where this leaves us, I read a really good article on that. Trying to remember what it was in. They said something to the effect that as long as we were the safest economy in the world we could borrow/print money infinitely. Its at the point we cease to be that the entire house of cards collapses.
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