I don't think monetary policy is as important as environmental policy at this point. The government can and does spend whatever it wants to. That said, the rate it spends has to be offset by production to avoid inflation and what it spends funds on is very important to our future imho.
Without changes we could be headed towards the mother of all supply issues and hyperinflation. If that happens it is doubtful any asset class will be safe. We could also be headed towards a golden age of abundance with free clean energy and healthly ecosystems. Hard to say right now but maybe we will have a better feel of things in a few years.
I agree with you on the supply issue and hyperinflation but that would not destroy all asset classes. After WWI in germany when they had hyper inflation 25 ounces of gold could buy you an entire city block. Some farmers were paying their bills with eggs. So, real goods or commodities will always hold some sort of value. We do have a lot of technology like the clean energy things you mention but if they screw things up we may not have enough time to implement those things as quickly as we would like.
I was thinking more in terms of a global supply issue in a complex interdependent system. A single countries hyperinflation does not really scale up to this as a good reference imho. Environmental issues could play havoc with global production by causing drought and a loss of productive farmland, among other things. This could lead towards increasing desperation and warfare causing further loss of production. If things get bad enough, I have my doubts that any asset class will survive, after all the sustainable production of modern goods and commodities requires a healthy ecosystem, energy and global trade.
From my understanding, the collapse of civilization is no guaranty that the weather systems will stabilize. Global average temperatures may raise even faster and we would have lost the ability to make significant changes through geoengineering.
I don't mean to be overly pessimistic but just clarify my statement on what would possibly destroy all asset classes. We do have wonderful technologies and ideas that could really improve things, so we really could be headed towards a much nicer future filled with increasing global cooperation.
The hyper inflation would certainly not be limited to the US, there is a lot of the same going on around the world. I do understand your point though. When my friends show me some of their potential survival gadgets that require batteries I always mentioned how Mad Max never used batteries lol. I would like to see a brighter future but I think that that is only possible if people come together to make that happen. Right now people are all going in different directions and mostly for selfish gain. There has to be a fundamental change in perspective to cause this willingness to get along. The experience that is going to cause this change in perspective is going to really have to be something...
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