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should the US consider a currency redenomination? (lemmy.zip)

submitted 8 months ago by shortwavesurfer@lemmy.zip to c/personalfinance@lemmy.ml

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Prices of things are becoming absolutely insane. $800+ rent, $30,000 cars, $10 sub sandwiches, etc. It would be nice to do a 3/1 split and cut everything by 2/3. Then we would have $266 rent, $10,000 cars, and $3.33 sub sandwiches. Wages, debts, everything would drop to 1/3 what they are now. It would also make coins useful again since a vending machine soda would be 2 quarters again.

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[–] TheAlbatross@lemmy.blahaj.zone 0 points 8 months ago (1 children)

Why? Seems like a lotta work for not much benefit.

[–] shortwavesurfer@lemmy.zip 0 points 8 months ago (1 children)

Because numbers are becoming so large its almost pointless to think about. The national debt for example is 33 trillion dollars. That is an unimaginable sum. What even is 33 trillion dollars?

[–] HerrBeter@lemmy.world 0 points 8 months ago (1 children)

Ah, my good sir, I believe that 33 trillion dollars is the equivalent of one current US national debt.

[–] shortwavesurfer@lemmy.zip 0 points 8 months ago (1 children)

Yes, but a regular individual cannot even fathom 33 trillion dollars. It is a number so large that it's not understandable.

[–] elmicha@feddit.de 0 points 8 months ago

Yes, 11 trillion dollars would be much easier to grasp.