There is no way off of this monetary policy. Once you take this much drugs you
can never get off, not without
massive withdrawal and so nobody
politically wants to deal with that
because if the Federal Reserve were to actually not
come to the rescue next time the stock market
wouldn't just go down 50 percent like it
didn't in 2008-2009, it might go down
80 or 90 percent.
Banks would actually fail I mean the government would actually have to default on its debt but I don't think that is gonna happen because nobody in power wants to let that happen and so the US dollar is gonna be sacrificed. But ultimately in sacrificing the US dollar the damage that's going to be done to the economy and to the standard of living of the average American is going to be much greater than had we just bitten the bullet and dealt with the financial crisis.
Banks would actually fail I mean the government would actually have to default on its debt but I don't think that is gonna happen because nobody in power wants to let that happen and so the US dollar is gonna be sacrificed. But ultimately in sacrificing the US dollar the damage that's going to be done to the economy and to the standard of living of the average American is going to be much greater than had we just bitten the bullet and dealt with the financial crisis.
