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How’s the stock market?
- Thread starter lagunaboy
- Start date
The BRICS have their problems, but after we printed $13 T in 2020, expropriated Russia's money, and then dialed-up interest rates to manage inflation at home, so do we. The fact that banks in other countries are unreliable for depositors doesn't say anything about whether those countries' governments will settle payments in each-others' currencies.
There doesn't need to be a world reserve currency. The USD became one because we were the last power standing after WWI and WWII, had a strong mfg base, a big navy and were seen as trustworthy. The biggest effect on Americans of loss of reserve currency status will be on our purchasing power. A large percentage of our goods are imported from China. If China decides they don't want more USD and has found other markets for its goods (ie BRICS), you won't be able to buy their stuff.
Zimbabwe used to be called Rhodesia and was a rich country, much like Venezuela and Argentina. What happened?
i thought it was 4 trillion? not that it matters, really. just curious where the 13 number comes from.
As I mentioned to my sis in law this morning, "it's all about P. I. A. Perspective, Iniciative & Attitude".
Mine, after a decade of banking was jaded on the whole game... I can definitely see how Babu would like it better than goat herding... as a matter of fact, everyone in town here is convinced that I'm nuts for having traded glamorous SF banker life, to become a goat herders neighbor.
But then, what the he11 do either of us know from a rats ass and a hole in the ground. In the end, what matters is what makes one happy, be it chasing the golden parachute, going full blown off the grid expat, or something in between. C?
I like to believe so.
I'm perfectly happy chasing swells up and down this rock and living in the middle of nowhere. I hope Babu is happy working his ass off for whatever it is he's chasing.
I posted this just over a year ago. Seems like they're finding a way. Problem is the aging populations of all countries involved, especially China. I think the BRICS alliance will ultimately fail, while bringing about a small amount of pressure. We need a super NAFTA w/Canada and Mexico. That would be an economic juggernaut if somehow it could align properly: Ag, Manufacturing and workforce...bring it all home to North America.
I know what you’re doing and it’s complicated and you know I will agree with certain things on many sides of a tangled and tragic history
You are right. I wish it weren't so, but only writers carving out niches in esoterica and the occult have any future:You are wrong.
Pause Giant AI Experiments: An Open Letter - Future of Life Institute
We call on all AI labs to immediately pause for at least 6 months the training of AI systems more powerful than GPT-4.futureoflife.org
The thing about the USA is it rewards risk and has always attracted risk-taking immigrants.
That gives it an entirely different dynamic than most other places.
That gives it an entirely different dynamic than most other places.
I am wrong about de-dollarization.
I am wondering about the accuracy - I had heard USD transactions were closer to 60% on a Bloomberg podcast I was listening to.
When you start dealing with numbers this large, there's a lot of uncertainty or different ways of measuring it.
I love when the euro entered the chat there was like a minuscule dip in the dollar and then it went right back up
also, maybe in the long term we are in some phase of the decline of Pax Americana, but for at least the foreseeable future we have all the money and all the power. No other single country can actually pretend to rival us in any meaningful way. Even a bloc of countries would have a hard time defying us even economically, let alone militarily
if I were like, Kazakhstan or Pakistan or Indonesia or really anyone, I would prefer to be friends and trading partners with us, and I think we want it that way too…we don’t want to occupy you, we just want you to do free and open business in a way that benefits everyone, especially us of course
also, maybe in the long term we are in some phase of the decline of Pax Americana, but for at least the foreseeable future we have all the money and all the power. No other single country can actually pretend to rival us in any meaningful way. Even a bloc of countries would have a hard time defying us even economically, let alone militarily
if I were like, Kazakhstan or Pakistan or Indonesia or really anyone, I would prefer to be friends and trading partners with us, and I think we want it that way too…we don’t want to occupy you, we just want you to do free and open business in a way that benefits everyone, especially us of course
That bar chart would make a lot more sense if the annual bars added up to 100%
Notice these numbers add up to over 100? That's because both sides of the transaction are counted. The number is actually 45%.
The Euro is now the amalgamation of the previous European currencies which weren't plotted.
This was your/grapedrink's argument.
I think we'll be fine militarily as long as we don't invade Asia. We're batting zero there, and I'm counting Japan which we just firebombed/nuked and didn't actually invade.
This will remain true as long as we keep up our navy and China doesn't rival us in the blue water. Our shipbuilding is in very bad shape compared to 40 years go. Really we just need submarines for that.
I’m a proponent of definitive and dominant naval superiority and the projection of power doctrine. Nukes are a threat and power that are almost irrelevant in the sense that if they came into play, it’s all over.
so projection of real, tangible, overwhelming traditional force is key to keeping the peace. Can’t just rely on the “we can always nuke a real threat” because what if some rogue African dictator comes to some sort of true regional and dangerous power, and is crazy enough to call the nuke bluff. Unless you are ready to nuke Mali or Ghana, you best have a big bad ass military that can make good on the warnings without ending human existence
there I said it.
so projection of real, tangible, overwhelming traditional force is key to keeping the peace. Can’t just rely on the “we can always nuke a real threat” because what if some rogue African dictator comes to some sort of true regional and dangerous power, and is crazy enough to call the nuke bluff. Unless you are ready to nuke Mali or Ghana, you best have a big bad ass military that can make good on the warnings without ending human existence
there I said it.
The USA has to be a maritime power or starve.
Martin Van Creveld said the same thing - now that they've proliferated, no one knows how to use them without ending life as we know it.
The idea of a an aircraft carrier is that most of the world's population lives within 200 miles of the coast, so you can just sail-up and bomb them. However, the Chinese have been working on area denial in the South China sea - HGVs and the ability to hit carriers with them. To render a carrier useless, you just have to damage the flight deck.
Submarines can sink shipping and control the sea lanes.
I’m a fan of giant invisible super subs keeping the seas safe for American and other peaceful nations trading interests. not to mention their ability to shift the balance of power in an entire region with a simple course change.
I also just don’t think the Chinese really have their acts together to do much more than bluster and make noise in the south China seas. They know they won’t ever “win” anything. They’ve had 5000 years to rule the world and really didn’t do squat with a 4500 year head start. Half their population or more lives in a different century altogether. Hell it wasn’t that long ago a handful of British ships sailed up a river and pounded them into submission and FORCED them to legalize the dope that was decimating the country. I’m not applauding the British I’m just saying. They are ass backwards to the bone. The smart ones all made it to greener pastures. The brain drain from China has been prodigious
I also just don’t think the Chinese really have their acts together to do much more than bluster and make noise in the south China seas. They know they won’t ever “win” anything. They’ve had 5000 years to rule the world and really didn’t do squat with a 4500 year head start. Half their population or more lives in a different century altogether. Hell it wasn’t that long ago a handful of British ships sailed up a river and pounded them into submission and FORCED them to legalize the dope that was decimating the country. I’m not applauding the British I’m just saying. They are ass backwards to the bone. The smart ones all made it to greener pastures. The brain drain from China has been prodigious