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should the US consider a currency redenomination? (lemmy.zip)

submitted 10 months ago by shortwavesurfer@lemmy.zip to c/personalfinance@lemmy.ml

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Prices of things are becoming absolutely insane. $800+ rent, $30,000 cars, $10 sub sandwiches, etc. It would be nice to do a 3/1 split and cut everything by 2/3. Then we would have $266 rent, $10,000 cars, and $3.33 sub sandwiches. Wages, debts, everything would drop to 1/3 what they are now. It would also make coins useful again since a vending machine soda would be 2 quarters again.

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[–] urist@lemmy.blahaj.zone 1 points 10 months ago (1 children)

But the United States is getting to a point where they will not be able to make good on their loans unless they print more money,

I’m sorry but to convince me you’d have to find a VERY good source for that claim. Government bonds are the safest bet in the game for a reason. The situation you’re describing would be a global collapse of most economies.

Anyway, you seem very interested in this topic, I hope you find the answers you’re looking for, but I think that wraps this conversation up for me.

[–] shortwavesurfer@lemmy.zip 1 points 10 months ago

I do find it to be a very interesting topic, and you were a great discussion partner.