there is an argument for hard money that the inability to print money forces integration with the broader market and thus Provide Value while also developing competitive edge has the us dollar helped el salvador?https://en.wikipedia.org/wiki/Economy_of_El_Salvador …
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interestingly, its "value" provided to the world is mainly through "exported workers". the inner economy itself hasn't (yet?) achieved a state where its inflow/outflow of value is workable. w/o foreign remittances, the country would have no dollarshttps://en.wikipedia.org/wiki/Economy_of_El_Salvador#:~:text=edit-,remittances,-from …
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one benefit is that though hard dollar prices make cot of living harder, big purchases no longer feels like running on a treadmill. it's most possible to save for a future w/o that future evaporatinghttps://en.wikipedia.org/wiki/Economy_of_El_Salvador#:~:text=lower%20interest%20rates …
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e.g. in areas with rapidly rising housing prices like beijing, shanghai, hong kong, bay area, etc... the rate of real estate appreciation is faster than wage growth there's no point saving b/c there's no way to catch up even if you save *all* your money
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people who consume mindlessly often have already made this calculation and realized that they have no future. they may as well enjoy life as it is now (and boost gdp numbers while they're at it)
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if you make someone believe that they have no future, they are more willing to sell that future to you at a discount
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