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17-05-2024, 03:43 PM
He is the biggest abuser of the US$ reserve status. During his term he cut taxes for the rich and ballooned the govt deficit. At that time he wanted to implement negative interest rates to pay people to borrow money.
His tax cuts has led to the current unprecedented givt debt levels...US givt debt increases by $1 trillion every 100 days. Soon the interest payment will exceed the total taxes collected. A situation worse than Argentina.
A sudden a rapid erosion of US dollar reserve status will send its value down and it will become a piece of toilet paper. Given the US incurs large trade deficit due to over consumption of its citizens, they will see hyper inflation and a plunge in living standards never seen before in recent history.
His tax cuts has led to the current unprecedented givt debt levels...US givt debt increases by $1 trillion every 100 days. Soon the interest payment will exceed the total taxes collected. A situation worse than Argentina.
A sudden a rapid erosion of US dollar reserve status will send its value down and it will become a piece of toilet paper. Given the US incurs large trade deficit due to over consumption of its citizens, they will see hyper inflation and a plunge in living standards never seen before in recent history.
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
