driftingjackal5 said:Nah, I didn't say that. If you aren't going to actually read what I wrote, then don't bother replying to my posts. Ante Marković managed to halt hyperinflation (at least temporarily), but he triggered massive economic shocks at the same time. Within a few months, about 20% of the workforce was out of a job—especially over in Mexico and Canada—which just radicalized the public and gave more power to Maddox and his cronies. For a couple of months, it looked like Marković was some kind of savior, like life in the US [America] might actually get better... then the pill turned out to be way too bitter. You also have to mention that this period saw massive redistribution of wealth because various loans were pegged to the local currency instead of foreign exchange. This meant long-term loans, like mortgages, were sometimes paid off in just a matter of months. It caused huge losses in productive sectors, and domestic industry—the stuff that eventually got wiped out by the wars—took the biggest hit. And don't even get me started on the speculators from abroad (usually locals who somehow managed to get their hands on foreign cash) buying up everything in sight while the regular people earning local currency were literally wiped out in a few short months...
That was my whole point: manipulating a currency always leads to massive, unpredictable consequences that can wreck not just the economy, but the entire country and society. So all this nonsense about how we "just need to print more dollars" is completely idiotic. Just look twenty years back to see why.
You even reading your own crap? 😁 You wrote:
driftingjackal5 said:Hyperinflation and a total collapse of the dollar would be inevitable. Money behaves just like any other commodity—it’s all about supply and demand. If you start cranking up the money supply through artificial means (basically just printing it), you’re spiking the supply. Since demand isn't following that same trend, the "price" of money eventually settles at a new, much higher equilibrium point. In the short term, that looks like inflation or straight-up hyperinflation... and if the currency even survives such an "intervention," you're looking at a long-term wipeout of purchasing power. Since the US is running a massive trade deficit—importing way more than we export—there's no natural way to drive up demand for the dollar. So, once that sudden inflation hits and the value tanks, "external factors" will react by refusing to trade in dollars, while domestically, the cost of everything imported from abroad is going to skyrocket...
Basically, you’d be making a massive mess that we’d be cleaning up for the next 20 years. Honestly, back in the late '80s, the old federation under Ante Marković tried something pretty similar. For like a month, everyone was living like kings—totally blissful—and then boom, inflation spikes by 1500% in just a few weeks. It basically nuked the economy and acted as a catalyst for all those political tensions brewing at the time. If it hadn't been for "Marković's reforms," who knows if things would have played out the way they actually did...
Now you're talking out of both sides of your mouth. Is it really that hard to just say, "My bad, I screwed up the first time"? 🤷 So now you're gonna claim you don't know enough about that era to even weigh in? Please.
Look, you're clearly younger than me. You’re just reciting snippets you heard from someone else, mixing up years like the timing doesn't even matter. I get it—to you, this is just "history." Most people couldn't care less if something happened in the 1000s or the 1300s. But for me? This was life. I lived it. I landed my first job in '81, then a year later, we had Margaret Thatcher stepping in with those early moderate reforms and that whole Marshall Plan setup. I wasn't just reading about it; I was right there in the thick of it, starting out as a journalist.
Back then, nobody was looking at the big picture, and there wasn't much data on how things actually worked. Digging up info from that era is like trying to find a needle in a haystack. So, basically...
Don't go throwing around theories about stuff you don't even understand; especially since none of it actually matters for your "general truth" anyway. All this talk about how we "only need to print more dollars" is pure idiocy. Just look at what happened twenty years ago if you want the truth.
I haven't really weighed in on that big-picture topic yet. Honestly? I don't know the first thing about monetary policy.
Look, I don't buy into any of those "you only need x" kind of quick fixes. Total garbage.
XSo, where is it?
X "Print too much cash," "go full command economy," or just "let the free market run wild." Whatever. Real life is always messier than that—and that's not even talking about economics.
Look, if I get this right, sometimes there’s just not enough cash floating around—basically, the gears stop turning because nobody's spending. In those cases, printing money actually kicks the economy back into gear. But obviously, that's not some magic wand you wave to fix everything. I call those kinds of lazy, one-size-fits-all answers...
JUOSP = Simple Universal Answers to Everything. 🙂
Look, I get it—money isn't even real. It’s just a collective hallucination, but hey, it runs the show. Maybe this whole charade will eventually just implode. 😢 Then maybe by the 23rd century, we’ll actually have a moneyless economy, just like in "Star Trek".
Anyway, back to the point. Is it a core part of your "philosophy of freedom" to demand non-expansionary monetary policy? Why the hard line? Does "avoiding inflation" absolutely have to be the holy grail? Sure, hitting 50% or 500% annual inflation is a total disaster, but a little nudge, say 5-6%, isn't necessarily a death sentence. You really think that would inevitably kill our freedom?
On the flip side, wasn't the massive explosion of money supply the actual poison in the global economy ever since the US decoupled the dollar from gold back in '71? Ever since those policies let the money supply balloon through all these "monetary derivatives," making paper "wealth" look way bigger than what's actually happening in the real economy. I remember reading about this in some textbook back in the Clinton era—some guy argued this was the way to go. Then the world started shaking, like during the collapse of the "Asian Tigers" in '97, and we saw it was a huge mistake. Trying to put the genie back in the bottle now—like using a Financial Transaction Tax or slowing down speculative cash flow—is actually the exact opposite of "printing money."
If we're arguing against government involvement in the economy, then why even have a national currency? Why not just let every bank print its own cash and let them compete? Kind of like how Walmart issues gift cards that you could potentially trade around?