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I have to second another reply with "contain your fox news in public please." What did the US get from their global hegemony? (Such a tragedy that mostly US-am
by throwawayqqq11 1y ago
I have to second another reply with "contain your fox news in public please."
What did the US get from their global hegemony? (Such a tragedy that mostly US-americans ask this, imo.)
They got eg. the petro dollar. Any other nation is buying/selling in dollars, provided by the US. This demand allowed you to amass your gigantic state debt to fund your military which enabled even more hegemony, like brutally messing up latin america with lasting consequences you can still see today, if fox news agrees on it ofc.
Remember when trump chickend out from his global tarifs, because "the markets got the yippies"? Part of that was a coordinated response of (former) allies to sell their US bonds, which, if continued, could have seriously hurt the US household by making new debt significantly more expensive for the US.
This is what you get from it! Cheap debt in a currency you controll! No other country has this privilege!
And in exchange for your fiat money you can devalue as you like, you get goods you wont produce yourself and you can sustain a massive military budget.
I hope trump continues his clueless destructive path and that some MAGA sweat shoppers learn from it (unlikely).