A very smart friend who is not red tribe, and is not prone to hyperbole is discussing the ongoing collapse of the Mandate of Heaven, and suggested the chance of ~ 100% annual inflation as said Mandate unwinds This does not seem likely to me...but maybe normalcy bias on my part?
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6/ so you're arguing that (a) deflation will happen if we pay off our credit, but (b) we will not pay off our credit, and in fact will borrow more right? so I'm again losthttps://twitter.com/wraithburn/status/1427262644566757387 …
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After asset crash we will hit a borrowing/printing ceiling as our “reserve currency” status becomes a liability and we come under pressure to reinforce our “creditworthiness” and safeguard the value of worldwide elite assets. We won’t be able to borrow or print as much.
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A few years after that we default and go back to printing, but in the meantime we do go through some painful deflation. It’s going to be a rollercoaster with policy always two years behind the curve.
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