June 03, 2023

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The pegger called China

December 15, 2019

Pegging only helps if you are a behemoth exporter like China, otherwise it only over inflates your economy. The rich are unaffected because they spend and earn in the same over inflated form of economy as most of their income is passive, the poor and middle class suffer because of their active income, and in this payments and salaries tend to be sticky and thus do not really reflect the actual economic needs of the people. Good move Denmark. Other ailing European countries should contemplate leaving the Euro and thus devaluing their currencies in order to make their Economies more competitive.

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