Quote:
Originally Posted by jfman
The economy is exactly the same at the other side if you protect everyone's position within it.
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That’s more difficult than it sounds. We have an internationally traded fiat currency and an economy built on debt. Everyone agreeing to stop and then start again isn’t enough. Everything depreciates while we do nothing, as the wealth necessary to keep up with the depreciation isn’t being generated. And while government can in theory simply write cheques to paper over the shortfall in the immediate term, the longer term ramifications of doing this can be serious. The economy is only really the same on the other side of this is all the comparable economies around the world stop and start at around the same time.