Can the U.S dollar become Worthless?

Discussion in 'Economics' started by bat1, Jul 6, 2008.

  1. bat1


    Oneday you walk into a store to buy something with your
    U.S dollars and they look at you and won't accept it.

    This is getting Scary...

    WASHINGTON (AP) -- Things in the U.S. sure are tough. Brother, can you spare a euro? Signs saying "We accept euros" are cropping up in the windows of some Manhattan retailers.

    The National Debt has continued to increase an average of
    $1.67 billion per day since September 28, 2007!
  2. That Euro sign in manhattan thing is old news - last year it started, if I remember correctly. And it's to appeal to european tourists, obviously.
  3. The Dollar can't become worthless in a very short period of time.

    But I fully expect it to lose 75-90% of its current value over the next 30 years. (I hope I'm wrong, for everyone's sake.) :mad:
  4. bat1


    Just how low can the dollar go before nobody wants it?

    What is backing our dollar????

    nothing but Debt! trillions in debt!!!!

    We are falling to 3rd world status as we speak!

  5. ME TOO!
  6. It was IMMEDIATELY after the 1980-1982 recession that the Fed began a policy of "money-pump on steriods... never back off... lie about the impact".

    See a correlation?
  7. There used to be a commonly used phrase: "I'll bet you a donut to a dollar"

    So what happened?

    In terms of everyday necessities the dollar has declined more then 75% in the last 3 decades and I expect the trend to continue if not accelerate.
  8. bat1


    Looks like it sure can become worthless!
  9. hausse


    I remember Kostolany comparing the bankruptcy of 3rd world countries to a bum and the bankruptcy of industrialized countries to a bankrupt businessman who still drives in his Rolls Royce in the Cote d'Azur and enjoys the finer things of life.

    I found that comparison quite apt and still do so and it is 25 years old. How long the dance continues depends on confidence in the money - which is an issue the Eurozone could face as well - and on having financing sources to avoid becoming unable to service the debt.

    Eventually it will be settled one way or another; re-payment at fair terms or reasonable purchasing power doesn't look realistic but what do we know.
    #10     Jul 6, 2008