Quote Originally Posted by jackvance View Post

The US might be overdoing it on the printing money aspect though. The petrodollar isn't going to be around forever. Here's an interesting video:

https://www.youtube.com/watch?v=P02vjiEZyUs
I don't know of any serious economists who put much credence into the petrodollar conjecture. It isn't that much of a benefit, if it at all. The US doesn't "print money" any more than several other countries, and there is no noticeable correlation between petro status and more wealth creation vs non-petro status and less wealth creation

We should call "printing money" "loose monetary policy" instead. The US doesn't do as much of that as people say. If it did, inflation would be higher. Lots of other indices would be different than they are. The bottom line is that monetary policy (looseness or tightness of) is not determined by the monetary base

Also the main difference between the Fed and ECB is that the Fed has looser policy. It isn't a whole lot looser, but it's definitely looser. Europe's economy is in disaster state compared to the US, and most serious economists from many different persuasions say the primary reason why the US is doing so much better is that the ECB's policy is overly tight and the Fed's is not