Yes printing money is bad but it is exporting inflation to most of the world because they use the dollar.
The problem with this is that Trump has rapidly accelerated the decline of the dollar as the world’s reserve currency. The US has been over printing dollars for decades now because there was always somebody who wanted them for global commerce. As that begins to turn, the returning dollars will exacerbate inflation which will make the dollar even less attractive. It’s a feedback loop that the US is currently in a terrible position to try and manage.
The world really doesn’t need much that the US has to offer, outside of agriculture. The world economy is hooked on US markets because we are such a financial jughaurnaut, but that won’t last forever. People are waking up to the fact that our biggest contribution to the world economy is consumption.
The problem with this is that Trump has rapidly accelerated the decline of the dollar as the world’s reserve currency. The US has been over printing dollars for decades now because there was always somebody who wanted them for global commerce. As that begins to turn, the returning dollars will exacerbate inflation which will make the dollar even less attractive. It’s a feedback loop that the US is currently in a terrible position to try and manage.
The world really doesn’t need much that the US has to offer, outside of agriculture. The world economy is hooked on US markets because we are such a financial jughaurnaut, but that won’t last forever. People are waking up to the fact that our biggest contribution to the world economy is consumption.