Paul Krugman is betting that it nearly is impossible for the dollar to have the same fate as the currencies of Southeast Asia in 1997. Yes, all the government needs to do is to continue printing dollars, and all will be well.
I think Peter Schiff has a better handle on things, to be frank.
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The idea of simply printing money to pay off dept is simply horrifying. Germany did that after World War 1 and the German mark became useless because of mass printing. When a country tries to print mass amounts of money no matter the reason the outcome is hyperinflation which makes the currency essentially useless. No, printing money is not the answer.
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