The funny thing is that this sort of monopoly money trading between oligarchs inflates the dollar while wages remain stagnant. Huge dollar numbers are now thrown around to buy garbage valued products/services. Saline bag? 100$. Tuition? 200k$. Simple ER visit? 5000$.Not to mention litigation fees, income taxes, and property tax.
And how does US make it bearable for the population? By introducing exceptions. If you work for a company, you can have their insurance. If you join the military, your student debt will be reduced. Exceptions through scholarships, exceptions through company rebates, and so on. How does the company pay for said insurance? State funding and package deals.
See where I'm going with this? US has highly ironically turned itself into a Soviet like economy where many commodities are available only through special exceptions, since the price is pegged so high that you can't afford it by normal wages. You either pay an exorbitant amount, or you have a
That's the reason nothing signficant can be manufactured in the US anymore. The buyer/seller system has been completely fucked over by huge handouts from US govt to a few price fixing oligarchs.
Reserve currency is meant in theory to mitigate this, but it doesn't work that way, because the flow of dollars out of US is bottlenecked by what foreign products Americans can buy and will never catch up with the pace the US govt is distributing bailouts, hence the progressive inflation of costs while wages remain stagnant.
For decades, American consumers mainly exported dollars to nearly only 1 country, the only 1 which could provide the advanced appliances and tech they need at prices they can afford after wage stagnation set in. China. But guess what is happening now when US government want to isolate itself from the world.
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