1 sat \ 0 replies \ @orthzar 2 Oct 2022 \ on: Fed Emergency Meeting bitcoin
Overall a good video except for the very last part. If the US engages in hyperinflation (the only way to cut US Federal debt in half), the crash/depression would be monumentally worse than if the Fed were to simply shutdown all it's operations. The 1921 crash was worse than the 1929 crash, but the 1921 crash lasted only 6 months. The 1929 crash lasted a decade. The difference is that the US ramped up credit expansion after the 1929 crash.
Increasing credit expansion after a crash is like drinking hair-of-the-dog while you have a hangover after a night of partying. It's only a good idea if you enjoy needlessly suffering. What's worse is that people die when GDP falls; something like 1% GDP per 40k deaths in the US alone.