5 ms·

Not just sad to watch. Would a country with a low-trust business environment be allowed to have such a huge mountain of government debt, and continue to have it

by rapnie 2y ago

Not just sad to watch. Would a country with a low-trust business environment be allowed to have such a huge mountain of government debt, and continue to have its currency be the world's reserve currency? A lot of sadness hinges on those considerations.

radicalbyte 2y ago
I'm pretty sure that the damage is done. It will take a few years, maybe even a decade, but the USD will no longer be the defacto reserve currency.
- cft 2y ago
  there's no reason for the USD to be the reserve currency, being the currency of a country that doesn't produce anything anymore
  - dlkmp 2y ago
    But does provide services the entire world depends on.
    - cft 2y ago
      there's no reason that one government should control that currency.
      - evrydayhustling 2y ago
        Trust was its own reason. It's useful for the whole world to have a currency and business environment that operates by rules, even when the rules aren't perfect or fair. That environment isn't being outcompeted by better, more fair rules - it's just getting vandalized for a few people's gain, and creating risk for everyone else .
      - EasyMark 2y ago
        there's what you think, and then there is reality.
    - exe34 2y ago
      it's the other way round, the military maintains the world order, the currency is used as reserve, and they get to provide services that nobody else can provide while they're top dog. they are not on a trajectory to remain top dog for very long.
- lazide 2y ago
  I remember when everyone said the Euro was the new reserve currency - even a Bond film used it as a plot point. Came to nothing.
  - 2muchcoffeeman 2y ago
    But things can change no? Like the country whose currency we use becoming untrustworthy. Do you think the world watched the first trump presidency and thought to do nothing?
  - radicalbyte 2y ago
    It was US policy to actively work against that and it was an acceptable deal for us given that we've been friends and allies forever. Now Trump has turned the US into our heroin-addict sibling we can no longer rely on them.
    - lazide 2y ago
      So they’re going to…. Be nicer now? Less crazy?
  - EasyMark 2y ago
    But at that point in time the USA wasn't run by a clown show of grifting circus performers.
impossiblefork 2y ago
Those particular aspects are only good for Americans though. That those two things are ending is good for basically everybody else, from Brazilians, Chinese and Canadians to Frenchmen.
- StormChaser_5 2y ago
  Not sure that's true. America's military keeps peace for trade to happen in a lot of the world... Not always successfully but it's there. That works because they have the reserve currency and can therefore print money for free. Which benefits the US greatly in all sorts of ways. But everyone else also sees some good. If that goes away its going to have impacts on everyone else as well as America. Maybe not as much of an impact on the rest of the world but this is not good for anyone. I can get the anger at the way the US acts, particularly over the last couple of weeks, but that doesn't mean that them doing badly helps the rest of us
  - consumer451 2y ago
    I agree. I would argue that Pax Americana has been pretty great for even the USA's supposed "arch enemies." My gut feeling is that everyone loved that stability, whether friend or foe, and the fact that it's now gone will mess everyone up. I am biased here, but I look forward to the next century of Pax Europa. This is the only way forward.
    - lazide 2y ago
      If you really think the US is going to just, what, retire all that military equipment you haven’t been paying attention.
      - consumer451 2y ago
        Disclaimer: As it turns out, predicting the future is somewhat difficult. However, in isolationist MAGA, the US military is just a jobs program. This is plain facts, is it not? The other major power of the USA, post-WWII, was "soft power." That has now been cancelled. So, I am really not sure what is happening. I once thought that "may you live in interesting times" was a blessing. I now believe that this saying is a curse.
eastbound 2y ago
I know I’ll be downvoted but, since we’re going straight for scorched land, I prefer to voice it. I think most voters think like me “I still prefer Trump to a leftist government”: - Was there any need to be so extreme in terms of wokeness on the left? I am directly threatened by their program. Was there really any need to go for such a degree of revolution, ensuring everyone sensical would vote Trump? Could the left imagine being a little more democratic and making a few more concessions towards… omg, white males? Is it such a bane? It’s concessions for white males, or we vote for Trump, so did the left win anything with their scorched earth policy? - It is true that savings needed to be done. The left refused to do any, and went to raise the public programs, reaching a few trillion debt per semester. At one point this has to stop, and the left ain’t gonna stop by itself, so the left provokes the people into voting for the only one who will stop public spending and, yes, he comes in, and has the bad role of taking the US to the cleaners. You will say “It doesn’t even save money” and whatsnot, but would the left have saved the money by themselves? No. Never. So someone else came in and saved for them. This entire movement is a reactionary movement to the left. The left makes no concessions. So both sides go for a scorched earth policy. What have we learned? What have we won, on either sides? Do we agree that, staying closed-minded as they are, the left will resume public spendings by the trillions the moment they step into power? Do we agree that the left is a direct threat to meritocracy, stability of government, men in marriage, men at work, a direct threat to men’s financial stability, and that no-one on the left cares even a little what others-than-them feel?
- FranzFerdiNaN 2y ago
  Do you also post on the /r/conservative subreddit? Because you should if you do not, you will find many likeminded people who are completely down the rabbit hole.
- tmcb 2y ago
  > I am directly threatened by their program. […] Could the left imagine being a little more democratic and making a few more concessions towards… omg, white males? I am not from the US, I am originally from Latin America. I am considered a “white male” there. I am now living in Europe as I am a dual citizen. This kind of position is interesting to me. What is so bad about being a white male in the USA at the moment? I’d like to elaborate further, but I want to engage in an honest conversation so I would like to hear your opinion.

by rapnie 2y ago

radicalbyte 2y ago

I'm pretty sure that the damage is done. It will take a few years, maybe even a decade, but the USD will no longer be the defacto reserve currency.

cft 2y ago
there's no reason for the USD to be the reserve currency, being the currency of a country that doesn't produce anything anymore
- dlkmp 2y ago
  But does provide services the entire world depends on.
  - cft 2y ago
    there's no reason that one government should control that currency.
    - evrydayhustling 2y ago
      Trust was its own reason. It's useful for the whole world to have a currency and business environment that operates by rules, even when the rules aren't perfect or fair. That environment isn't being outcompeted by better, more fair rules - it's just getting vandalized for a few people's gain, and creating risk for everyone else .
    - EasyMark 2y ago
      there's what you think, and then there is reality.
  - exe34 2y ago
    it's the other way round, the military maintains the world order, the currency is used as reserve, and they get to provide services that nobody else can provide while they're top dog. they are not on a trajectory to remain top dog for very long.
lazide 2y ago
I remember when everyone said the Euro was the new reserve currency - even a Bond film used it as a plot point. Came to nothing.
- 2muchcoffeeman 2y ago
  But things can change no? Like the country whose currency we use becoming untrustworthy. Do you think the world watched the first trump presidency and thought to do nothing?
- radicalbyte 2y ago
  It was US policy to actively work against that and it was an acceptable deal for us given that we've been friends and allies forever. Now Trump has turned the US into our heroin-addict sibling we can no longer rely on them.
  - lazide 2y ago
    So they’re going to…. Be nicer now? Less crazy?
- EasyMark 2y ago
  But at that point in time the USA wasn't run by a clown show of grifting circus performers.

impossiblefork 2y ago

Those particular aspects are only good for Americans though. That those two things are ending is good for basically everybody else, from Brazilians, Chinese and Canadians to Frenchmen.

StormChaser_5 2y ago
Not sure that's true. America's military keeps peace for trade to happen in a lot of the world... Not always successfully but it's there. That works because they have the reserve currency and can therefore print money for free. Which benefits the US greatly in all sorts of ways. But everyone else also sees some good. If that goes away its going to have impacts on everyone else as well as America. Maybe not as much of an impact on the rest of the world but this is not good for anyone. I can get the anger at the way the US acts, particularly over the last couple of weeks, but that doesn't mean that them doing badly helps the rest of us
- consumer451 2y ago
  I agree. I would argue that Pax Americana has been pretty great for even the USA's supposed "arch enemies." My gut feeling is that everyone loved that stability, whether friend or foe, and the fact that it's now gone will mess everyone up. I am biased here, but I look forward to the next century of Pax Europa. This is the only way forward.
  - lazide 2y ago
    If you really think the US is going to just, what, retire all that military equipment you haven’t been paying attention.
    - consumer451 2y ago
      Disclaimer: As it turns out, predicting the future is somewhat difficult. However, in isolationist MAGA, the US military is just a jobs program. This is plain facts, is it not? The other major power of the USA, post-WWII, was "soft power." That has now been cancelled. So, I am really not sure what is happening. I once thought that "may you live in interesting times" was a blessing. I now believe that this saying is a curse.

eastbound 2y ago

I know I’ll be downvoted but, since we’re going straight for scorched land, I prefer to voice it. I think most voters think like me “I still prefer Trump to a leftist government”: - Was there any need to be so extreme in terms of wokeness on the left? I am directly threatened by their program. Was there really any need to go for such a degree of revolution, ensuring everyone sensical would vote Trump? Could the left imagine being a little more democratic and making a few more concessions towards… omg, white males? Is it such a bane? It’s concessions for white males, or we vote for Trump, so did the left win anything with their scorched earth policy? - It is true that savings needed to be done. The left refused to do any, and went to raise the public programs, reaching a few trillion debt per semester. At one point this has to stop, and the left ain’t gonna stop by itself, so the left provokes the people into voting for the only one who will stop public spending and, yes, he comes in, and has the bad role of taking the US to the cleaners. You will say “It doesn’t even save money” and whatsnot, but would the left have saved the money by themselves? No. Never. So someone else came in and saved for them. This entire movement is a reactionary movement to the left. The left makes no concessions. So both sides go for a scorched earth policy. What have we learned? What have we won, on either sides? Do we agree that, staying closed-minded as they are, the left will resume public spendings by the trillions the moment they step into power? Do we agree that the left is a direct threat to meritocracy, stability of government, men in marriage, men at work, a direct threat to men’s financial stability, and that no-one on the left cares even a little what others-than-them feel?

FranzFerdiNaN 2y ago
Do you also post on the /r/conservative subreddit? Because you should if you do not, you will find many likeminded people who are completely down the rabbit hole.
tmcb 2y ago
> I am directly threatened by their program. […] Could the left imagine being a little more democratic and making a few more concessions towards… omg, white males? I am not from the US, I am originally from Latin America. I am considered a “white male” there. I am now living in Europe as I am a dual citizen. This kind of position is interesting to me. What is so bad about being a white male in the USA at the moment? I’d like to elaborate further, but I want to engage in an honest conversation so I would like to hear your opinion.