Your Opinion! What Would Happen If The Dollar Was Devalued By 40%

[Seamuss]

Ok gang thanks appreciate all your answers, what if the dollar was devalued by 40% and your mortgage was $150,000 would that mean it would be lowered to $90,000 or your credit card was $10,000 would that be lowered also? who wins here the banks? By the way HAPPPPPPPPY NEWWWWW YEAR. Charlie

Sounds like the banks would forclose on a lot of homes and more people would file for bankruptcy and banks would be in our position financially. Would that be called a Major depression? Hmm. Time to harvest the garden if we're lucky enough to have one and know how to can food.

 

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[jeff of pa]

If some thing cost $100 before, you would have to fork over $140 for the same item...
Happy New Year!

that's already Happening.

I Pay $3.29 for a Gallon of Gas
I was paying about $2.50 for last year.

I pay 79 Cents
for a Loaf of bread that I could get
3 loaves for a dollar 2 years ago.

 

[Michigan Badger]

I'll cash in my Marlboro Miles, they never lose value

In addition, I also associate with people of dubious backgrounds, so I see no problem in printing out own money...

Just like Uncle Sam does

8)

At this point 40% doesn't alarm me. I'm more concerned about 100%.

 

[Frankn]

Actually, if we devalued our dollar 40% our overseas sales would skyrocket, employment would increase in the USA and all USA products would cost about the same, but foreign made products would rise 40%. Actually not as bad as it first looks. China has been using this plan for years now, but her labor cost is now raising which will soon put an end to it. Frank