Originally Posted by Drek
You clearly don't even get the argument at hand here.
What does interest rate matter when you can print more money to pay the interest? What does inflation rate matter when money is just a theoretical medium we conduct barter in?
The value of the dollar is irrelevant as long as the U.S. produces enough real resources (read: food, water, etc.) to provide for it's populous. Which we do and then some, as a net exporter of agriculture (one of the few things we are an exporter of). Should that start to become a problem we can simply outlaw the export of food resources much like we currently disallow the export of oil. This will drive the price of food low, but not so low as to make agriculture an unsustainable business (as it will remain profitable within the bubble of America only supply and demand, since their labor force would be Americans with salaries commensurate with said economic practices).
The U.S. is blessed with all the resources it needs and no obligation to another foreign body's value of our currency. There is no such thing as default or bankruptcy for the U.S. government. So why worry about a boogie man when we've got real things to deal with? Like national under employment resulting in an unproductive economy.
The problem is real wages are dropping and prices are skyrocketing. What you are left with is a vanishing middle class. Basically, an enormous permanent lower class (who can't even afford to put food on their table or own their own house), and a few wealthy elites who own all the resources. That isn't the American dream, and it isn't a recipe for success. In fact, it's eerily reminiscent of a fuedal system.