What I fear is that “rich” foreigners end up with more US dollars and/or stronger currencies, and buy up all of our assets, essentially becoming our lords; and we, their serfs. We would also see asset and commodity prices rising, while our wages stagnate — creating a far more hideous financial situation that what deflation would deliver. This isn’t a prediction, as much as it’s an observation of what is currently going on, and has been going on for a couple of years, now.
Dollar destruction would wreck havoc on all working people in the U.S. It is only something to be desired by capitalists (asset owners), not laborers.
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This already happened in the mid- to late-1980’s. Our lords at that time were the Japanese.
