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It's net-positive activity full-stop, not just economic activity. The US dollar thrives because it's backed by the full faith and credit of the United States G

It's net-positive activity full-stop, not just economic activity. The US dollar thrives because it's backed by the full faith and credit of the United States Government. Which in all practical terms means it's backed by our guns, or more precisely our ability to wage war. Closely allied nations and currencies such as the Euro, the Pound, and the Australian, Canadian, and New Zealand Dollars similarly benefit. So in immediate terms you may see it as a wealth transfer, in longer timescales opening up our economic horizons (improving economic and political conditions with our allies and opening fronts for investment with new allies) improves our ability to grow GDP, revenue, our tax base, and our ability to do more business in our own currency. That's pretty much the payoff, if you're looking for one in strictly economic terms.

heyjamesknight 3y ago
> It's net-positive activity full-stop, not just economic activity. Net positive for who? It doesn't seem to be a net positive for Ukraine, who have effectively lost an entire generation of young men. > in longer timescales opening up our economic horizons (improving economic and political conditions with our allies and opening fronts for investment with new allies) improves our ability to grow GDP, revenue, our tax base, and our ability to do more business in our own currency. This is a wildly nebulous claim. At "longer timescales" I can claim the same thing: indebting future generations to help defend non allies ("new ally" is an interesting word for someone who wasn't an ally until they needed our help) without a clear ROI is a fantastic way to slow future GDP growth by continually increasing the amount of debt we have to service.
- eganist 3y ago
  > Net positive for who? It doesn't seem to be a net positive for Ukraine, who have effectively lost an entire generation of young men. Men who laid down their lives to defend their homeland. This isn't a serious counterargument on your part and devalues your standing as a good-faith participant in this exchange. > This is a wildly nebulous claim The history of our nation as a world superpower disagrees. Cheers.

heyjamesknight 3y ago

> It's net-positive activity full-stop, not just economic activity. Net positive for who? It doesn't seem to be a net positive for Ukraine, who have effectively lost an entire generation of young men. > in longer timescales opening up our economic horizons (improving economic and political conditions with our allies and opening fronts for investment with new allies) improves our ability to grow GDP, revenue, our tax base, and our ability to do more business in our own currency. This is a wildly nebulous claim. At "longer timescales" I can claim the same thing: indebting future generations to help defend non allies ("new ally" is an interesting word for someone who wasn't an ally until they needed our help) without a clear ROI is a fantastic way to slow future GDP growth by continually increasing the amount of debt we have to service.

eganist 3y ago
> Net positive for who? It doesn't seem to be a net positive for Ukraine, who have effectively lost an entire generation of young men. Men who laid down their lives to defend their homeland. This isn't a serious counterargument on your part and devalues your standing as a good-faith participant in this exchange. > This is a wildly nebulous claim The history of our nation as a world superpower disagrees. Cheers.