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>smaller lol no, US didn't have 30 trillion in debt last time and didn't have a peer competitor to offer an alternative currency like China. Eventually other c

>smaller lol no, US didn't have 30 trillion in debt last time and didn't have a peer competitor to offer an alternative currency like China. Eventually other countries are going to get tired of subsidizing poor US government decision making and move to something else. The US pulling financial stunts like they did with Russia is making even neutral and allied countries look for alternative or backup financial systems US has to stop inflation which also makes their debt more expensive to manage. Worst case scenario is basically a death spiral. Best case is still vastly lowered living standard for US citizens. our economy has been propped up by massive debt spending that hasn't been efficient at all. Productivity can't be faked using financial tricks, only innovation that boosts productivity matters https://fred.stlouisfed.org/series/GFDEGDQ188S https://fred.stlouisfed.org/series/GFDEGDQ188S

jdhn 4y ago
>an alternative currency like China Until China is a lot more transparent, the yuan won't be a major reserve currency.
voz_ 4y ago
This is a fantasy. China is not even close to a peer competitor if you look at the amount of food insecurity it has. China is hard pegged to the US wether you like it or not. > US didn't have 30 trillion in debt That's not how national debt works, like, at all.
- ayende 4y ago
  Unless I missed something, China just got the biggest wheat export in the world in its pocket (Russia). And the fifth is Ukraine. That means that food security issue is far less of a problem.
- ren_engineer 4y ago
  I was talking financially for investment, not in terms of warfare but China won't have many worries about food or energy insecurity now because US sanctions have forced Russia into their arms. China will have all the food and oil they need via Russia and they'll get it cheap >That's not how national debt works, like, at all. rapidly increasing debt with no economic growth is a good thing?
  - jazzyjackson 4y ago
    > China will have all the food and oil they need via Russia and they'll get it cheap my latest conspiracy is that china conned russia into getting embroiled in a war via bad intelligence in order to: A : evaluate western response and capabilities B : bottom out the cost of russian food and fuel for their own benefit
    - ren_engineer 4y ago
      wouldn't surprise me, having Russia as a vassal state solves almost all of China's potential problems. China is pretty much immune to most forms of sanctions or embargo that the West could do to try and punish them. Only issue I can see for them is the transition of power from Xi to whoever is next, otherwise they are in great shape
    - wing-_-nuts 4y ago
      It still doesn't solve their demographic issues though. Both Russia and China are basically at their peak from a demographic and economic standpoint. It only gets worse for them from here unless they can resolve their fertility rates.
      - ren_engineer 4y ago
        China is rapidly automating their manufacturing and it's not crazy to think many more mundane tasks will be automated away over the coming decades with the rapid advancements in AI. Throwing more bodies at a problem rather than focusing on being more productive through technology is stone age thinking that for some reason the West is obsessed with

jdhn 4y ago

>an alternative currency like China Until China is a lot more transparent, the yuan won't be a major reserve currency.

voz_ 4y ago

This is a fantasy. China is not even close to a peer competitor if you look at the amount of food insecurity it has. China is hard pegged to the US wether you like it or not. > US didn't have 30 trillion in debt That's not how national debt works, like, at all.

ayende 4y ago
Unless I missed something, China just got the biggest wheat export in the world in its pocket (Russia). And the fifth is Ukraine. That means that food security issue is far less of a problem.
ren_engineer 4y ago
I was talking financially for investment, not in terms of warfare but China won't have many worries about food or energy insecurity now because US sanctions have forced Russia into their arms. China will have all the food and oil they need via Russia and they'll get it cheap >That's not how national debt works, like, at all. rapidly increasing debt with no economic growth is a good thing?
- jazzyjackson 4y ago
  > China will have all the food and oil they need via Russia and they'll get it cheap my latest conspiracy is that china conned russia into getting embroiled in a war via bad intelligence in order to: A : evaluate western response and capabilities B : bottom out the cost of russian food and fuel for their own benefit
  - ren_engineer 4y ago
    wouldn't surprise me, having Russia as a vassal state solves almost all of China's potential problems. China is pretty much immune to most forms of sanctions or embargo that the West could do to try and punish them. Only issue I can see for them is the transition of power from Xi to whoever is next, otherwise they are in great shape
  - wing-_-nuts 4y ago
    It still doesn't solve their demographic issues though. Both Russia and China are basically at their peak from a demographic and economic standpoint. It only gets worse for them from here unless they can resolve their fertility rates.
    - ren_engineer 4y ago
      China is rapidly automating their manufacturing and it's not crazy to think many more mundane tasks will be automated away over the coming decades with the rapid advancements in AI. Throwing more bodies at a problem rather than focusing on being more productive through technology is stone age thinking that for some reason the West is obsessed with