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It’s so interesting to me that people see the dollar at a long term high, a proxy war in which the US is kicking ass (we don’t even need to send troops, our old

by RC_ITR 4y ago

It’s so interesting to me that people see the dollar at a long term high, a proxy war in which the US is kicking ass (we don’t even need to send troops, our old equipment is enough) and their takeaway is that the US is in decline.

hnews_account_1 4y ago
The US is incredibly strong. That does not mean the dollar is in good shape. Too much strength for your currency of exchange / account is a bad thing. It is why crypto cannot be a currency even if the blockchain was rock solid tech. Nobody in their right mind will use a currency that is that volatile. You cannot price anything properly or run a business. Same with usd. Sure the guy above is exaggerating and he probably knows that, but dollar strength is a bad thing beyond a point. People in finance already understand this very well.
- SergeAx 4y ago
  Are you saying that USD is very volatile currency? Volatile relative to what?
  - petre 4y ago
    Not very volatile but the USD/Euro parity changed lot during the last five years. The BCE is obsessed with the stability of the currency, but I find that the FED is doing a much better job with the USD or maybe it's also the US economy being more resilient.
    - bjornsing 4y ago
      I think it’s the US economy being more resilient. Here in Europe things started falling apart when the interest rate went up to 1.75%. The US seems fine with double that. I think the over regulating of the labor market and Ponzi style pensions are the two major factors. But it is hard to understand how they can be so different. I’d love to read something on the subject if anybody has any recommendations.
  - hnews_account_1 4y ago
    Relative to other currencies and relative to its own past.
eternalban 4y ago
US definitely has declined from its peak position of '90-'00. By the end of the last century, even allies were openly voicing concerns over US being a hyperpower and not just a mere superpower. [They are calling us a superpower again.] 9/11 is the inflection point (and subsequent matter is my opinion) and regrettably for us Americans, the store was in the hands of neocons, who stupidly (they wrote in late 90s a document announcing to the rest of the world that ~'US will never permit anyone reaching parity to challenge', shit like that) misused our global position, and give motivation for various powers, including w/o a doubt ~Western allies, to review Swift's Gulliver's Travels .. We pissed away blood, treasure, and reputation during the regime of the neocons (which spans D and R presidents, btw). Do you think the laughably comical criticism of "world order" by the "mutlipolarity" gang, the likes of RF or CPC and junior friends, would be taken seriously by other world leaders/nations if US had not acted like a bully these past 2 decades? We absolutely must re-examine our stewardship performance vis-à-vis the tacit acceptance of other major powers for this arrangement under sane leadership of US of A. Second, Putin's adventure would not have happened in an environment of robust US prestige and power, but you appear to forget just how oddly our nation has been acting (at least as viewed from an external lens) in terms of our domestic politics. We've lost prestige on that end as well. What made this little man so confident? Why is he still hanging on? It should have been well over by now. Finally, RF appears to have forced US to use mechanisms -- confiscation of sovereign reserves, etc. -- that I assure you must have scared the living light from all spectators with treasure trusted to the "international order". They are all saying 'but by the grace of god of mamon there go I'! So we need to get our act together as a nation, if we intend to continue to insist that we are the responsible steward of the Global order.
- petre 4y ago
  > Second, Putin's adventure would not have happened in an environment of robust US prestige and power, but you appear to forget just how oddly our nation has been acting (at least as viewed from an external lens) in terms of our domestic politics. I believe Putin perceived Biden as weak. Big mistake. Both of his more recent adventures were during Democrat administrations. The 2008 Russo-Georgian war was during the GW Bush administration, when the US was busy in Iraq and Afghanistan.
- 4y ago

by RC_ITR 4y ago

hnews_account_1 4y ago

The US is incredibly strong. That does not mean the dollar is in good shape. Too much strength for your currency of exchange / account is a bad thing. It is why crypto cannot be a currency even if the blockchain was rock solid tech. Nobody in their right mind will use a currency that is that volatile. You cannot price anything properly or run a business. Same with usd. Sure the guy above is exaggerating and he probably knows that, but dollar strength is a bad thing beyond a point. People in finance already understand this very well.

SergeAx 4y ago
Are you saying that USD is very volatile currency? Volatile relative to what?
- petre 4y ago
  Not very volatile but the USD/Euro parity changed lot during the last five years. The BCE is obsessed with the stability of the currency, but I find that the FED is doing a much better job with the USD or maybe it's also the US economy being more resilient.
  - bjornsing 4y ago
    I think it’s the US economy being more resilient. Here in Europe things started falling apart when the interest rate went up to 1.75%. The US seems fine with double that. I think the over regulating of the labor market and Ponzi style pensions are the two major factors. But it is hard to understand how they can be so different. I’d love to read something on the subject if anybody has any recommendations.
- hnews_account_1 4y ago
  Relative to other currencies and relative to its own past.

eternalban 4y ago

US definitely has declined from its peak position of '90-'00. By the end of the last century, even allies were openly voicing concerns over US being a hyperpower and not just a mere superpower. [They are calling us a superpower again.] 9/11 is the inflection point (and subsequent matter is my opinion) and regrettably for us Americans, the store was in the hands of neocons, who stupidly (they wrote in late 90s a document announcing to the rest of the world that ~'US will never permit anyone reaching parity to challenge', shit like that) misused our global position, and give motivation for various powers, including w/o a doubt ~Western allies, to review Swift's Gulliver's Travels .. We pissed away blood, treasure, and reputation during the regime of the neocons (which spans D and R presidents, btw). Do you think the laughably comical criticism of "world order" by the "mutlipolarity" gang, the likes of RF or CPC and junior friends, would be taken seriously by other world leaders/nations if US had not acted like a bully these past 2 decades? We absolutely must re-examine our stewardship performance vis-à-vis the tacit acceptance of other major powers for this arrangement under sane leadership of US of A. Second, Putin's adventure would not have happened in an environment of robust US prestige and power, but you appear to forget just how oddly our nation has been acting (at least as viewed from an external lens) in terms of our domestic politics. We've lost prestige on that end as well. What made this little man so confident? Why is he still hanging on? It should have been well over by now. Finally, RF appears to have forced US to use mechanisms -- confiscation of sovereign reserves, etc. -- that I assure you must have scared the living light from all spectators with treasure trusted to the "international order". They are all saying 'but by the grace of god of mamon there go I'! So we need to get our act together as a nation, if we intend to continue to insist that we are the responsible steward of the Global order.

petre 4y ago
> Second, Putin's adventure would not have happened in an environment of robust US prestige and power, but you appear to forget just how oddly our nation has been acting (at least as viewed from an external lens) in terms of our domestic politics. I believe Putin perceived Biden as weak. Big mistake. Both of his more recent adventures were during Democrat administrations. The 2008 Russo-Georgian war was during the GW Bush administration, when the US was busy in Iraq and Afghanistan.
4y ago