Not if the economy crashing causes increased inflation and interest rates, then you’d wish you had assets that hold value rather than currency which will lose its value.
Although, given the numbers most Americans live paycheck to paycheck and don’t have a wealth of assets or cash.
I’m sure all of the Zimbabweans hoarding some large denimination $1,000 stacks of cash under their bed were still doing great after the 12mil% hyperinflation caused the central bank to issue $100,000,000,000,000 notes.
Perhaps the upvote was in their own country’s social currency, but then rapid hyperinflation happened since they commented. Lemmy was just showing us its value adjusted by the current exchange rate.
if you have USD/other currency but not assets the economy crashing is good if you are a wageslave it’s bad.
Not if the economy crashing causes increased inflation and interest rates, then you’d wish you had assets that hold value rather than currency which will lose its value.
Although, given the numbers most Americans live paycheck to paycheck and don’t have a wealth of assets or cash.
I’m sure all of the Zimbabweans hoarding some large denimination $1,000 stacks of cash under their bed were still doing great after the 12mil% hyperinflation caused the central bank to issue $100,000,000,000,000 notes.
Did you remove your own upvote?
Perhaps the upvote was in their own country’s social currency, but then rapid hyperinflation happened since they commented. Lemmy was just showing us its value adjusted by the current exchange rate.