Fundamentally, money and the banking system is based on TRUST. Whether it's paper bills or coins, it just represents numbers on a balance sheet and is used to measure the relative value in trade of disparate items, from physical goods to labor to ideas and entertainment. Once trust is lost in its value holding reasonably steady from one day to the next, the system fails. What is happening now is El Trumpo is destroying all trust in the system by wildly changing the rules on a daily basis.
I have talked about this many times, but now coming out of the mouth of a Billionaire hedge fund guru like Ray Dalio, people may pay attention.
A recession is two negative quarters of GDP and whether it goes slightly there. We always have those things. We have something that's much more profound. We have a breaking down of the monetary order.
Recessions are bad, monetary system collapse is another can of beans entirely. If something isn't done to stop Trump, he's gonna get it.
https://www.theguardian.com/business/2025/apr/13/ray-dalio-trump-tariffs-recession
Hedge fund billionaire says US may face 'worse than a recession' from Trump tariffs
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Hedge fund billionaire says US may face ‘worse than a recession’ from Trump tariffs
Started by RE Apr 14, 2025, 10:00 AM
Message path : / Society / The American economy / Economic Errata #58
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