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The elephant in the room is that the US had been operating as the chief architect and manager of the global economy for the last 80 years, a role that made it t
by standardUser 1y ago
The elephant in the room is that the US had been operating as the chief architect and manager of the global economy for the last 80 years, a role that made it the wealthiest and most powerful and most technologically advanced nation on the planet. Under Trump the US has voluntarily relinquished that role, and we're seeing lots of these little adjustments as the system flails as it adapts to it's previously steadfast leadership contorting erratically. But the real damage done isn't about credit ratings or trade agreements or Trump's ridiculous kidding-not-kidding tariffs. It's about a different power settling into the role as the indispensable trading nation, and one that prides itself on its stability and unopinionated economic cooperation. In other words, we're hosed.
- mmastrac 1y agoTragically hilarious from an outside perspective that a leader sees all the expense of the soft-power the US has paid so much for as "freeloading". Either you are the world leader and invest to stay in that position, or you're just one of the pack.
- dboreham 1y agoOnly a few idiots and fraudsters in the US see it like that.
- BLKNSLVR 1y agoAnd right now they're magnetically clustering to the top.
- xeromal 1y agoTakes only 1 driver to crash a bus full of people.
- blitzar 1y ago77,302,580 of them it turns out.
- mvdtnz 1y agoThey just VOTED your guy in, can't be that few.
- riffraff 1y agoAnd they voted him in twice
- AlecSchueler 1y agoI've seen multiple people even on Hacker News agree with that position since the start of February.
- chneu 1y agoThis is one of those topics where people like to sound smart. Economics and global financial systems are ridiculously complicated. Anyone claiming to predict the future is full of it.
- geoka9 1y ago> Under Trump the US has voluntarily relinquished that role I would argue the process was started under Obama, and continued under Trump and Biden. What caused that shift is an interesting question in itself. My theory is that once Obama won on the platform of limiting US foreign involvement, the writing was on the wall and the politicians after him all became isolationist as that seemed to win elections. The difference is that Trump, an incompetent populist he is, doubled down on the process so much that it became a very conspicuous mess. I suspect we'd be living in a completely different world if John McCain was elected in 2008.
- brandensilva 1y agoIncompotent populist is certainly right for this group since none of his policies are actually for the population but for the very elite group he protects who stand to benefit the most from his policies.
- whimsicalism 1y agowe’re hosed because we can’t collect enough revenue relative to our spending. it has little to do with what you said, especially not any sort of move in the last 6 months.