The US has had exorbitant privilege that allowed it to run ~7% fiscal deficits during wartime/recessions without consequences, but most other countries running similar deficits without world reserve currency status would face immediate monetary/fiscal collapse
factualpending
Speaker
FelixEvidence Quote
“the US has had this exorbitant privilege of of not really having a trade-off because we've been able to run 7% wartime recession time fiscal deficits without issues”
Created: 8/12/2026, 6:47:08 PM
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