Should the global economy ever be "reset"?
If we reached a point now or in the future where the global economy collapsed on an unprecedented scale, would starting from scratch work? From Granny Smith's mortgage, to the IMF, every figure would be set to ZERO (pounds, dollars, whatever currency you prefer). What do you think the consequences would be?
Yes
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No
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What you're talking about is essentially getting a new currency, or a country defaulting, but on a large scale, I'm assuming? I see no reason why it couldn't happen on a global scale, but the problems we'd have to face to get to a position where it's the best choice are amazingly scary. Global hyper inflation would destroy market confidence, even a reset would cause so many millions of problems. Side: yes
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