The Dollar and the Decline of the Economy

Dollar is super, super dominant. It's not in any risk of going away. But the problem is being credit based money. It has diminishing margin returns. So now it's not as productive to take out new debt. Plus you have all this debt that you have to service. There is a dollar shortage or it feels like there's a dollar shortage because you're not having as much growth to service the debt. This will continue. The end is a deflationary grind, not an inflationary collapse.

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