I do wonder whether UBI will be feasible once the US loses its ability to print trillions of dollars.
Whether it’s China or Crypto, it seems like the reign of the PetroDollar is coming to an end, and with it the easy access to money printing.
Also any debates on UBI typically start with a country-centric view (US in this case), but what will be the implications for the rest of Earth citizens who live in countries without UBI?
If I were a leader of a country that engaged economically with the US, I would be less concerned with the use of the dollar for UBI than it's current use, which is too enrich a small financial elite. A group that not only had outsized power in the US, butt also around the world, since the power of the dollar is so generalized.
It takes a relatively small slice of a billionaire's power to destabilize national leadership, a process that I assume isn't just happening in the US butt around the world. This doesn't even include the fact that Facebook is a near-optimal propaganda tool in protecting the wealth of the people who rule over changes to the way it runs.
If I were a trading partner of the US, would I want to continue to accept the US dollar as the currency became less and less valuable as a result of excessive money printing?
Eventually austerity measures will come, and it's unlikely it will be the boomers who pay for it but the younger generations.
Whether it’s China or Crypto, it seems like the reign of the PetroDollar is coming to an end, and with it the easy access to money printing.
Also any debates on UBI typically start with a country-centric view (US in this case), but what will be the implications for the rest of Earth citizens who live in countries without UBI?