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The US has the luxury of having the reserve currency of the world, which is why it was able to churn out $6 trillion in quantitative easing over the past 2 year
by cykros 4y ago
The US has the luxury of having the reserve currency of the world, which is why it was able to churn out $6 trillion in quantitative easing over the past 2 years, enjoy a blast out of the gate as COVID wound down, and still be sitting on one of the world's top performing currencies in 2022 (behind only a few, including the Russian Ruble and the Israeli Sheckel). To boot, the demographics of the country are showing a labor pool that is growing slowly at best, if not shrinking, leaving labor in higher demand than historically was the case in recent times.
There are some major issues no doubt, but wealth divides, access to quality healthcare, and climate change are hardly uniquely American -- if anything the latter is something America sees less danger from than much of the world (as many like to point out the injustice of, considering how much of a role America has had in fueling the problem).
Of course, if the reserve currency status is lost, all bets are off. We'll see how kicking Russia off of SWIFT and encouraging the BRICS to rally around their own systems really works out over the next few years no doubt. For all those skirmishes fought over the last few decades to preserve the petrodollar, this year seems like the playing field has somehow changed.