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You left out: * Issues the global reserve currency * Maintains the largest military * Has the widest media reach * Has significant natural resources There

You left out: * Issues the global reserve currency * Maintains the largest military * Has the widest media reach * Has significant natural resources There are problems too, but the unfair advantages are quite strong, and self-perpetuating. Which is fortunate for Americans, because very few countries could be so haphazardly managed, without failing.

monero-xmr 4y ago
I would argue the perceived haphazardness is an advantage. The more centrally planned the economy, the more likely an incompetent government takes power and mucks it up. Part of America’s genius is the (fairly) restricted powers and decentralized nature of responsibility.
- TheOtherHobbes 4y ago
  Is this why the US financial system blows up so regularly?
  - ptero 4y ago
    That may be. But whatever those blowups are they tend to be a lot less damaging than at other places. I lived through two growing up, and both times almost everyone lost almost all money. I will take the risk on my US bank account over those any time. My 2c.
  - CamperBob2 4y ago
    And why it recovers so quickly.
  - refurb 4y ago
    Asian financial crisis? Euro crisis? It’s not unique to the US. It just makes headlines.
mike_d 4y ago
Whenever the "what actually backs the US dollar" discussion comes up I remind them: 11 aircraft carriers.
- mullingitover 4y ago
  USD is ultimately backed by plutonium.
- paganel 4y ago
  > 11 aircraft carriers. That only works when the US has to fight military super-powers that rely on sea-transport in order to feed their people and their military, like Japan had to do in WW2. The moment another super-power stops depending on sea routes in order to provide basic needs for its people and its military then things start getting more complicated. Case in point, the current Russia + China alliance. They could basically sustain a conventional war against the West while avoiding sea routes basically forever, thanks to Russia's fertile lands and minerals and with the help of China's human capital. There's no US aircraft carrier that would be able to stop the logistic links going through Central Asia.
  - dtech 4y ago
    I don't know the exact number but almost all of China's oil is imported, and almost all of that comes through Sea. That is not something Russia can fix on a short timeline. It's one reason why Pacific naval power remains an important advantage of the US and why they're so aggresive in the South Chinese Sea territorial "disputes".
  - safety1st 4y ago
    The real purpose of the carriers is not to fight a war, but to assert control of sea lanes. In a globalized economy your country needs access to maritime shipping lanes to survive. The carriers basically act as an area denial threat, preserving the ability of the US and its allies to trade and prosper, denying that to anyone who messes with them. If Russia and China decide they're going to get together and be super trade buddies but the US denies them the trade lanes with everyone else, that's fine, they can share food and oil which are certainly important, but they'll still be broke and their economies will still collapse, especially China's which is super export dependent and seemingly approaching collapse right now anyway. China needs huge exports to survive in its current state and Russia doesn't have that much purchasing capacity.
64bittechie 4y ago
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monero-xmr 4y ago

I would argue the perceived haphazardness is an advantage. The more centrally planned the economy, the more likely an incompetent government takes power and mucks it up. Part of America’s genius is the (fairly) restricted powers and decentralized nature of responsibility.

TheOtherHobbes 4y ago
Is this why the US financial system blows up so regularly?
- ptero 4y ago
  That may be. But whatever those blowups are they tend to be a lot less damaging than at other places. I lived through two growing up, and both times almost everyone lost almost all money. I will take the risk on my US bank account over those any time. My 2c.
- CamperBob2 4y ago
  And why it recovers so quickly.
- refurb 4y ago
  Asian financial crisis? Euro crisis? It’s not unique to the US. It just makes headlines.

mike_d 4y ago

Whenever the "what actually backs the US dollar" discussion comes up I remind them: 11 aircraft carriers.

mullingitover 4y ago
USD is ultimately backed by plutonium.
paganel 4y ago
> 11 aircraft carriers. That only works when the US has to fight military super-powers that rely on sea-transport in order to feed their people and their military, like Japan had to do in WW2. The moment another super-power stops depending on sea routes in order to provide basic needs for its people and its military then things start getting more complicated. Case in point, the current Russia + China alliance. They could basically sustain a conventional war against the West while avoiding sea routes basically forever, thanks to Russia's fertile lands and minerals and with the help of China's human capital. There's no US aircraft carrier that would be able to stop the logistic links going through Central Asia.
- dtech 4y ago
  I don't know the exact number but almost all of China's oil is imported, and almost all of that comes through Sea. That is not something Russia can fix on a short timeline. It's one reason why Pacific naval power remains an important advantage of the US and why they're so aggresive in the South Chinese Sea territorial "disputes".
- safety1st 4y ago
  The real purpose of the carriers is not to fight a war, but to assert control of sea lanes. In a globalized economy your country needs access to maritime shipping lanes to survive. The carriers basically act as an area denial threat, preserving the ability of the US and its allies to trade and prosper, denying that to anyone who messes with them. If Russia and China decide they're going to get together and be super trade buddies but the US denies them the trade lanes with everyone else, that's fine, they can share food and oil which are certainly important, but they'll still be broke and their economies will still collapse, especially China's which is super export dependent and seemingly approaching collapse right now anyway. China needs huge exports to survive in its current state and Russia doesn't have that much purchasing capacity.

64bittechie 4y ago

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