I am playing the spread USD to CAD and I get some income in USD.
I am betting the loon weakens more than the US buck in any scenario. Our debt projections are just as bad but we have no reserve currency, a poorly diversified economy and a G20 GDP.
Jan 15, 2021 | 11:35
4
I always find it amusing when people point out the record debt to GDP ratio in WWII and claim that it was no big deal, hence no big deal today.
The reason that it was no big deal back then was that it only lasted about 3 years. Government spending collapsed in 1946 and along with it the need to borrow such huge sums.
Today's debt binge shows zero sign of abating. As the graph indicates, it's a completely different picture today.
I always find it amusing when people point out the record debt to GDP ratio in WWII and claim that it was no big deal, hence no big deal today.
The reason that it was no big deal back then was that it only lasted about 3 years. Government spending collapsed in 1946 and along with it the need to borrow such huge sums.
Today's debt binge shows zero sign of abating. As the graph indicates, it's a completely different picture today.
It is even worse than this. By printing such vast sums of money, government has totally destroyed the relationship between work and money. It will take generations to get that back. Nobody thinks that now is a good time to dial it back either so time to prep.
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Originally Posted by caseih
