The whole thing is important, but listen until the end: the US depends a lot on the flow of capital into the country because it is perceived as the safest port in a storm. Once that is no longer true, a lot of things Americans take for granted go away.
Reposted from
Brian Tyler Cohen
A top economics reporter goes off script on national TV: “I am going to say this at risk of my job, but what President Trump is doing is insane.”
Comments
Everything the US has gained since WW2, everything we nowadays take for granted, is fully predicated on that trust.
Even our evilest past presidents understood to maintain that, regardless of agenda.
Nobody knows where the inflection point is, but this administration seems determined to find out.
“…leisure bookings to US cities dropped 40% in Feb vs Feb 2024.
A drop in even just 10% could lead to 2m fewer visits, US$2.1 billion in lost spending and 14k job losses, the U.S. Travel Assn warned, noting CDNs generated US$20.5 billion in spending last year”
#GlovesOff
In spite of it not working very well even within the very narrow band where it actually has a chance of working.
Destroying that stability breaks the system.... self inflicted wound
And if it don't simmer down quickly they're just going to spend their money elsewhere.
But given holdings elsewhere we're unlikely to see a precipitous crash sufficient to actually destroy it *knocks on wood*
More than likely the US goes into a DEEEEEEP recession though and the rest of the world follows suit.
I guess there's always Russia, a shrinking economy the size of Italy's.
- NATO neutered
- Allies can't trust USA
- Deals with US worthless
- US arms can't be trusted
- US soft power surrendered
- USD reserve currency status undermined
- US treasury bonds no longer safe haven
- World economy torpedoed
#NowPlaying
#Music
#ForestTrump
I assume I am not alone.
https://oilprice.com/Finance/the-Markets/The-Start-Of-De-Dollarization-Chinas-Move-Away-From-The-USD.html#:~:text=The%20De%2DDollarization%20of%20China's,use%20of%20its%20own%20currency.
Not that I know anything about economics, but that seems to add up.
I'm sure these assholes will find a way to stay rich, but I hope it's hard as hell.
But I'm sure they'll be fine,they'll just plunder the nation's resources like the oligarchs do
Where naive nationalists discover the hard way that the economic stability shouldn't be taken for granted, and that experts often do know what they're talking about when they tell you something is a very bad idea.
https://bsky.app/profile/r5-to-philly.bsky.social/post/3ljhkprmn2s25
that’s right
He'd never do it
Stop. Quiet. The entire fucking globe has every fucking right to be utterly pissed at us. If anyone extends the USA ANY iota of pity at this point is MERCIFUL compared to what's been wrought from our shores.
they are short-sighted mean people. they want the machine, not us. they want our work, our profit as theirs to enjoy
they deem us evolutionary dead ends, so feel they might as well
talk about entitlements lol
The rest is that she did everything the party consultants said to do: appeal to the rich, no working class policies, no "weirdos" sloganing, etc.
Signed, an American
I've acquired several Canadian contacts on BS over the last few weeks. 🤔
So much winning.
Like North Korea, Russia, and Nazi Germany
Turned out well for those countries
#Sarcasm
I guess we’ll see
The only 'control' on the utterly corrupt narcissist in power is Congressional action, and half of the Senate are christofascist accelerationists who are big into crashing the US to bring about the Rapture. They wouldn't vote to convict if he approved airstrikes on Sacramento.
Just because he is president he holds a lot of power. I’m sure a lot of people want him stopped but they don’t want to take the risk of being the one to do it. So they hoped someone would take care of it for them.
Also a lot who want to ride a tiger.
We'll become Temu.
So blinded by the great dream of what they think is great for the US, they've never fully considered what everyone else may think & do as a result.
Newton 🤣
"For every action, there is an equal and opposite reaction."
That whole "Full Faith and Credit" thing?
He blew all that away.
Once what he's already done to damage trust and credibility is fully understood, I hope some people who are willing and able to hold him accountable show up.
It's madness. The emperor is buck naked. If journalists can't say so they're less than useless amd actively harmful.
But yeah, why the hell do these reporters/hosts are always sane washing? Are they afraid of being attacked by the WH? If you can’t speak truth to power, then you’re useless as a reporter/host.
Asking for a friend, for a quoted meme. 😁
Remember Zimbabwe? That was an extractive economy, same as USA now.
Decoupling the dollar from oil prices would also knock-down the dollar. Who benefits? China.
Today's Cold War is with China.
Undermine soft power by killing USAID? Helps Putin.
Slash medical research and get RFK Jr. to goose a pandemic? Helps Putin.
Decapitate the military? Helps Putin.
Alienate allies? Destroy public education? Inflame racism and xenophobia? Putin is beyond overjoyed.
Musk, Theil, Andreesen, Sacks, Vance, all these guys are Yarvin acolytes.
These guys ain't gonna shine their own shoes.
https://www.ft.com/content/fba87dd3-514a-41c2-b2b9-ea597ffbdfbf
Americans may threaten some nation in need and extort its valuables.
Half a country for help.
Little Donnie has done that to Ukraine already.
Don't you remember?
Just ask any rogue state like Russia to make an opportunity.
And then grab it.
Easy-peasy.
RFK Jr crusade against HPV Vaccine did not prevent him from getting confirmed:
https://bsky.app/profile/scifri.bsky.social/post/3lk43gbrywa26
Okay, Americans really don't do second bests. Should have known. 🤦♀️
“No thanks, most of the preservatives have been banned in Europe”
Just look at Tommy Tuberville. He isn't of "average intelligence" by any definition.
In 2020, the Associated Press called the Tuberville Foundation "a questionable charity that raises money but gives very little away". Foundation officials said the tax filings did not reflect volunteer labor and donated materials used to refurbish veterans' homes.
This is the additional rate that investors will demand to compensate for perceived instability related to politics/laws/regime, etc.
Sometimes also called a "country risk premium".
Money is where the power and influence is. Countries using the USD as the world reserve allows the US to benefit massively.
They are risking that position with the stuff they're doing.
If the dollar loses that Reserve status, it devalues massively and your influence goes with it
But I assume more its just gonna Become "If we just deported all these illegals they wouldnt buy stuff we true muricans need "
If we're lucky, other powers find a way to unwind US Treasury bills gradually, thus containing the damage to our country.
If we aren't so lucky, well... the whole world falls into the most severe depression in modern history.
They hate the fundamental thing that makes the USA great. What is earned over what is demanded.
From my admittedly amateur readings, I've been saying that one can trace the origins of today's politics from replacing in 1956 this motto with "In God We Trust" and its unspoken addition "Not Your God, Mine"
Trumpworld is all about that zero sum thinking.
They despise the current international system even though we have the sweetest deal because they can’t stand the thought that other countries benefit too
But they don’t get we have the power we do because we aren’t overt bullies
"Hey Exxon,
I've signed an executive order firing your Chairman and CEO, while naming me the new Chairman and CEO, whether you like it or not.
All shares shall be transferred into my name by midnight.
You have 5 minutes to vacate the premises."
There is not much hope for you on other topics