alt Hacker NewsAs a preview of our future, it's now a good time to review the decline of standard of living that occurred when Great Britain lost the privilege of having the World's reserve currency, the Pound Sterling.
My estimate is we're in for a 75% haircut to our personal standard of living as the US Dollar loses it's place, and we actually have to pay for everything we want in hard currency or real goods. Trump killed the golden Goose, and threw it into a wood chipper.
Yep what many people overlook is that this deficient just means the rest of the world is financing the US overconsumption. And the only reason they are happy to do it is because they are happy to hold USD and are happy to invest in the US economy.