Let's be objective about "shit-hole" countries, shall we? No nation on this planet has more phucking debt than the USA; it makes the USA ... the most disgraceful, shit-hole country on the planet throughout mankind's known history.
Let's be objective about "shit-hole" countries, shall we? No nation on this planet has more phucking debt than the USA; it makes the USA ... the most disgraceful, shit-hole country on the planet throughout mankind's known history.
This merely demonstrates how dumb you are.
We have made ourselves the indispensable country that is Too Big To Fail. At least, during the present balance of power within the international community and competing economies. We maintain trade routes and safe sea lanes. We make world commerce possible. We are its biggest markets. We have keystone economic and diplomatic relations with every major country. And we have few rivals of any significance. We are the world's only real military superpower. We are the biggest energy producers in the world. The list is quite long.
In short, we are the Indispensable Country on planet Earth. I never like the claims of American exceptionalism as such talk always smacks a bit of the old manifest destiny doctrine.
We are pretty determined and pretty well-positioned to maintain our position as the Indispensable Country. And we're better at it than the British Empire ever was. They made a lot of mistakes.
We are, as we have always been, eager to diminish debt through inflation, primarily to benefit businesses large and small but also generally to the benefit of homeowners and those with considerable consumer debt.
So, don't worry quite so much about American debt.
America's run as the dominant world empire will continue for decades, perhaps even a century more. In the end, it is more likely that we will simply tire of empire rather than any other country taking the central role from us. I could imagine America retreating somewhat from the world around 2040-2050 and China becoming a dominant world empire to take up the slack. I don't really see Russia having the capacity to overcome its internal problems, let alone become a true global power again.
Anyway, I enjoyed PJW's little rant. He was having some fun dishing it out, especially on the Xlinton's robbery of Haiti. They really do hate the Xlintons down there.
Don't toot your all-mighty dollar to me, that makes America GREAT. It is collapsing world-wide.
In your dreams.
Always remember: we don't have to be all that good. We just have to be better than any likely coalition of our rivals. By that measure, America is very strong.
But you have to ask yourself, "why?" Why do otherwise rational people invest thousands upon thousands of dollars in crypto-currencies? I think the answer is staring us in the face: the US dollar is about to tank, particularly because the US federal debt continues to rise unsustainably while China rises with economic wealth already transferred into their coffers.
All around the world, there just isn't much faith in the good ol' USA anymore.
US federal debt continues to rise unsustainably while China rises with economic wealth already transferred into their coffers.
China has huge amounts of US treasuries and currency in its coffers. They send us stuff. We send them dollars that we print. If the dollar goes up, we have the stuff, they have worthless paper, and they have nowhere to sell their stuff. We go, they go. The reverse is not true.
China has huge amounts of US treasuries and currency in its coffers. They send us stuff. We send them dollars that we print. If the dollar goes up, we have the stuff, they have worthless paper, and they have nowhere to sell their stuff. We go, they go. The reverse is not true.
Some people never see that these trade deficits leave our biggest competitors holding our (devaluing) currency in large quantities, thus subsidizing the petrodollar.
We have about as much hold on them via this debt as they have on us.
We have a much bigger hold on them than they on us. Truth is, we don’t really NEED any of the consumer goods we import. We would be less comfortable, and life would be less stable, but we don’t have to import anything. If China cut us off, our standard of living would fall because the cost of cheap goods would rise. We might do without cheap socks for a week until we started buying the from Vietnam. We get luxury goods like cars from stable permanent allies. Nobody NEEDS a Mercedes, but Germany’s never cutting us off either. If we have a trade war with China, nobody here starved, or freezes, or goes without transportation or clothing or medicine. Prices go up and life is less sweet for the Wal-Mart class, that is all. But China has a revolution
We do need them and all our foreign trade partners just a bit more than you admit. I think you know this. Still, you are largely right. Any disruptions in trade would be brief. However for things like lithium batteries and other items that require rare earth metals, China has made itself pretty indispensable.
