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Just last week, I was accused on HN of "not knowing what I'm talking about" when sharing data showing, and my interpretation of, a declining US dollar globally.
by BowBun 9mo ago
Just last week, I was accused on HN of "not knowing what I'm talking about" when sharing data showing, and my interpretation of, a declining US dollar globally.
It is so obvious in the context of globalization: countries seeking power will chip away at fiscal dominance of others with a thousand cuts. Why wouldn't they? Especially after years of getting bullied.
So many people are so dependent on this reality that I think it's going to happen long before any Americans accept it has happened.
- shevy-java 9mo agoHN may not have the best experts - people are kind of quick to downvote. Almost in a reddit-like fashion.
- therobots927 9mo agoPlenty of Elon musk types / admirers who think that because they’re good with computers they know everything about everything.
- SV_BubbleTime 9mo agoOh, that’s not entirely fair. I feel like the self appointed experts almost have more pretentiousness than Reddit.
- therobots927 9mo agoSimilarly I was downvoted for pointing out that the developed markets index returns (30%) doubled US market returns (15%) over the last year. Simultaneously the value of the dollar has dropped 10%. I simply stated that we’re seeing capital flight from the US. Ray Dalio said the same thing this morning.
- maerF0x0 9mo agoAnd if you look at pricing as a proxy for capital flows, SMMD which is Russell 3000 minus S&P500 has had a heck of a run in 3 months. IMO People are retreating the mag7
- therobots927 9mo agoI hadn’t noticed that , that is interesting. Makes sense to me. That’s not good for the S&P considering that ten stocks make up 40% of the index. And since the wealth effect is really the only thing keeping the US out of a recession, if the MAG7 fail then we’re looking at serious economic problems.
- RealityVoid 9mo agoYes, people are in denial about these things. I'm still salty for the time I posted I believe the covid money printing will lead to inflation and I was down-voted for it.