• lennybird@lemmy.worldEnglish
    52·
    3 days ago

    Only way to get through to conservatives tends to be through their wallets. Unfortunately we all must suffer because of this but so be it…

  • xtr0n@sh.itjust.works
    30·
    3 days ago

    It’s gonna suck but we deserve it. Hopefully some of this shit will finally hurt the billionaires enough that they stop supporting mad dictators.

    • ColeSloth@discuss.tchncs.de
      3·
      2 days ago

      They aren’t invested in bonds and they only take loans because it’s cheaper than taxes on incomes and profits. This won’t really hurt the billionaires. They’re already divested out.

  • nomecks@lemmy.wtfEnglish
    12·
    3 days ago

    So I’ve been wondering what this would look like. Would the interest rates just start climbing like in post 2k8 Greece, or will the market all of a sudden run into a brick wall like it did in the UK under Lizz “The Lettuce” Truss?

    • empireOfLove2@lemmy.dbzer0.comOPEnglish
      6·
      3 days ago

      It’d just be interest rates. The US still has incredibly massive financial weight in the global system as a whole, there is always going to be SOME appetite for the fried fat pig. But the risk will keep getting priced into interest rates in a compounding cycle of wow this sucks.

      • TragicNotCute@lemmy.worldEnglish
        11·
        2 days ago

        It’s fucked to tell the citizenry they can’t have silver and gold and they have to turn it all in, only to allow it at a markup shortly after.

        But I don’t think pegging the dollar to gold makes sense in the modern age. Do we really want our monetary supply to be upended when a new gold deposit is found? Obviously our current monetary policy of “print more more bro” sucks, but I don’t feel like gold backed is the way either.

        • ColeSloth@discuss.tchncs.de
          1·
          2 days ago

          As opposed to the constant devaluing of the US dollar we have now? Do you have any idea how much less our dollar is worth since the 70’s? They could have found enough gold to quadruple the known amount and it still would have left the dollar worth significantly more. No gold deposits being found the world over would have effected it nearly as much as our rampant inflation we have now. A loaf of bread was 20 cents in the 70’s and paying more than a dollar a pound for ground beef was unheard of. A GOOD living wage was $35k a year. That’s poverty levels now.

          Good per ounce in 1970 was $35. Thirty five fucking dollars! Do you know what an ounce of gold is now? $4,800.

          The only thing getting off the gold standard was good for was making sure peoples savings and retirement money would keep being worth less and less, because the “economy” doesn’t want you to save your money. They want you to spend it and have to borrow. It makes sure whatever you have been saving will never be enough to retire on. Oh; you managed to save a 100k for retirement? Too bad that by the time you retire that’s only going to be enough for a new truck.