Nicholas Dwork Profile picture
PhD in Electrical Engineering. Work: Biomedical imaging, Consulting engineer, Expert witness, https://t.co/BTHx8jzWhs
23 Feb
@Aamir07690510 @CharleeeConway @michaeljburry This plot along with your other recent tweets, imo, explains the diminishing confidence in the dollar. Let's put it like this; do you think people paying social security today will be able to live on it when they retire? The answer is obviously no. Everyone converts their 1/x
@Aamir07690510 @CharleeeConway @michaeljburry dollars to assets. Storing dollars under the mattress is a losing proposition; you will necessarily lose purchasing power. At first, the dollar was pegged to gold. Should inflation become unsustainable, the Fed will have to raise interest rates (regardless of unemployment). 2/x
@Aamir07690510 @CharleeeConway @michaeljburry This will increase the cost to service the debt, requiring a reduction in decrease in spending. And then, we will have to pay the piper. And that's the GOOD scenario.

Alternatively, the government can continue to print dollars to service previous debts. Knowing that 3/x
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