What a great piece. Slowly and then all at once, it's happened many times through history. There is a difference between the US and these other countries though. With dollars being the Global Reserve Currency it's unlikely we default like Zimbabwe with hyper inflation. The US has more of a "soft default" where we default through higher inflation forever. That currency debasement is exactly why we need to focus on trading our cash for assets over the long run to protect our purchasing power.
What a great piece. Slowly and then all at once, it's happened many times through history. There is a difference between the US and these other countries though. With dollars being the Global Reserve Currency it's unlikely we default like Zimbabwe with hyper inflation. The US has more of a "soft default" where we default through higher inflation forever. That currency debasement is exactly why we need to focus on trading our cash for assets over the long run to protect our purchasing power.