Economic Collapse?
I'd like to keep this VERY simple. In light of the fact that the dollar is down 97% since the creation of the Fed, I have two questions:
1) Will the dollar decline by 90% of its current purchasing power?
2) When?
I'm looking for YES/NO on the first part and a year on the second.
Appropriate answers would look like:
Yes - 2019
or
No - Never
Discussion can take place elsewhere.
My guess?
Yes - 2016
1) Will the dollar decline by 90% of its current purchasing power?
2) When?
I'm looking for YES/NO on the first part and a year on the second.
Appropriate answers would look like:
Yes - 2019
or
No - Never
Discussion can take place elsewhere.
My guess?
Yes - 2016
I say in 50 years, which works out to an inflation rate of 4.7%. I would not be shocked if it happens in 40 years, which works out to 5.8% inflation.
It will be difficult to verify this claim because the basket of goods and services people buy will have changed radically. Someone 50 years ago would put a different value on things like having a large collection of movies to watch any time in your own home. Some things stay the same, though, so I stand by the 50 year prediction.
97% decline since 1913 works out to 3.5% inflation. I expect it to average higher, around 4.5%, over the next 50 years, though, as globalization and competitors like Bitcoin undermine the USD's position as a worldwide store of value.
1) Yes
2) 2063