> How does this harm a working class American that derives all of their income from working wages as opposed to assets?
Their wage-dollars will now buy less stuff.
> Cite and example where a country did not default/print money for their debt payments and inflation went to 30%
The US has the world reserve fiat currency, so there are no examples because a fiat reserve currency has never existed before, but we know hyperinflation is a likely outcome. Now, from the experience we do have, ~30% inflation like in the 70s is the best we can hope for. A zombie economy like japan's would frankly be fantastic given the conditions.
>How does this harm a working class American that derives all of their income from working wages as opposed to assets?
Their wage-dollars will now buy less stuff.
> Lastly, address how any of the above prevents an increase in manufacturing jobs, which was the intent of the measures originally listed.
Don't worry, americans will have plenty of $1/hour manufacturing jobs like asians do now (or the nominal equivalente to $1 in a hyper-inflationary world). The US doesn't have the technical capacity or workforce to compete in high paying manufacturing any more and will take decades of pain to build.
Well, you don't seem to understand the fundamental problem. Whatever labor force exists in America should see rapidly growing wages because the unemployment rate is relatively low. The reality is that not only do we not see inflation the fed has set the interest rates to almost zero and injected an insane amount of money into the stock market with no change in sight. There is slack in the system, a lot of slack. This causes wage growth to stagnate while rich people in the USA still make loads money off Chinese labor. They don't have to care about Americans because there are work forces abroad waiting for them.
>The US has the world reserve fiat currency, so there are no examples because a fiat reserve currency has never existed before, but we know
This is completely irrelevant. The primary benefit of a world reserve fiat currency is running a trade surplus without financing but if you don't produce anything, not even housing that advantage is meaningless.
>hyperinflation is a likely outcome.
Banning investments into real estate might not be optimal but hyperinflation is not going to happen because the economy isn't even close to it's production capacity.
>Now, from the experience we do have, ~30% inflation like in the 70s is the best we can hope for.
There is a response to your commend that disputes that we even had this "experience".
>A zombie economy like japan's would frankly be fantastic given the conditions.
The USA is already partially a zombie. You have public companies with record stock growth despite no changes in fundamentals. It's easier to make money off the stock market because that's where the rich are using the watering can of the fed even though there are lots of withering plants surrounding the almond farm. The stock market looks significantly brighter than it should.
Their wage-dollars will now buy less stuff.
> Cite and example where a country did not default/print money for their debt payments and inflation went to 30%
The US has the world reserve fiat currency, so there are no examples because a fiat reserve currency has never existed before, but we know hyperinflation is a likely outcome. Now, from the experience we do have, ~30% inflation like in the 70s is the best we can hope for. A zombie economy like japan's would frankly be fantastic given the conditions.
>How does this harm a working class American that derives all of their income from working wages as opposed to assets?
Their wage-dollars will now buy less stuff.
> Lastly, address how any of the above prevents an increase in manufacturing jobs, which was the intent of the measures originally listed.
Don't worry, americans will have plenty of $1/hour manufacturing jobs like asians do now (or the nominal equivalente to $1 in a hyper-inflationary world). The US doesn't have the technical capacity or workforce to compete in high paying manufacturing any more and will take decades of pain to build.