The U.S. is one of the world’s two largest economies and the center of the English-speaking world. It has the power to tax, the strongest network of alliances and the most powerful military. Yes, it has printed a lot of dollars since 2008, but it also has taken steps to lower the speed at which those dollars circulate.
Yes, rates of price inflation are likely to be higher for the next two years or so, but already some of the immediate inflationary pressures are abating; lumber prices, for instance, are now plummeting. Over a 10-year time horizon, the U.S. government can borrow at a near-zero real rate of interest, hardly a sign of a doomed empire.
Nor is the U.S. government about to go broke or on the brink of resorting to hyperinflation. The U.S. debt-to-GDP ratio may well hit 200%, but the poorer and smaller nation of Japan is doing OK with similar debt levels. Keep in mind that national wealth, while difficult to estimate, may run as much as six to eight times higher than GDP. So a 200% debt-to-income ratio could mean a debt-to-wealth ratio as low as 25%. That’s hardly the end of the world. Think of how comfortable you’d be if you paid off “only” 75% of your mortgage.
If anything, crypto is more likely to hurt the currencies of countries that are doing very poorly, such as Venezuela. Fiat currency won’t just go away, so over the long run crypto could actually boost the value of the dollar by stifling the rise of potential competitors. Don’t downvote this just because it doesn’t fuel the confirmation bias, just think rationally.