Kyle Field Shade Chaser said:
So what happens when America goes bankrupt?
They just get told bad boy, and keep running just like normal the same as all the big business that go bankrupt and stay in business?
Pretty much. Not enough people understand what's really causing this. It's a self-serving problem for the government. Inflation is the govt's get out of debt free card. But they never use it for that. They just use it to spend even more.
Another benefit to the govt is that as cost of living increases, demands for the government to "do something" will increase. We're already hearing the grumblings for price controls on certain things. This will, of course, lead to shortages or stark decline in quality like in the case of rent control. As these demands for govt action increase, so will the spending. And the Fed will be there to monetize all of it, leading to more…you guessed it; inflation. This point is where the snowball effect happens and we could very easily hit hyperinflation.
The bottom line is that the majority of Americans would not support what needs to be done to fix this. It would mean a drastic reduction of government spending across the board. We would have to look at major cuts to everything from social security and Medicare to military spending. Even if people understood what's causing this and that these cuts are what's best for them and the country at large, they would not support it because "they're owed." They want someone else to take the haircut.
If the above is true, then it's a mathematical certainty that we will see hyperinflation or some sort of transition to cbdc. The only solution for individuals is to spend your dollars now. Buying precious metals should be your first line of defense. If you're willing to speculate with more risk, buy some Bitcoin or other cryptos.