The power grid didn't decay though. It was relatively well maintained. It simply failed due to an improperly compensated shock at a point, which led to a cascading failure. The straw that broke the camel's back.
American Economics Thread
- Thread starter Bernard
- Start date
How lucky I'm to have you here to mansplain how it got broken. Well noted. Sheesh.
I failed to see anyone noticing that US is, first and foremost, a financial empire, not like the empires that came before. Its military was, is and will be only a tool create regional instability around the world to create a dollar safe heaven and its attendant strength. No wars in continental US for 150 years, kinda like Mearsheimer's free to roam line of thought.
Correction: average gas price before price rise was around $3.10 to $3.40, not $2.51 as I incorrectly stated. Sorry.
But the article is still wrong to imply that there were savings.
And yet nobody goes to jail, just like in 2008. A lot of victims, but alas no crimes.
In case you havent noticed, the US dollars has in the last couple years completely decoupled from function and utility of a currency, much less a global reserve currency at that. Many have already pointed out, which you choose to actively ignore or brush aside, US dollars are being created at exponential rate which cannot possibly be sustained. This is the basic math of compound exponential curves. Since modern money is really just an abstract symbolic token meant to represent a deposit of energy and that resource's thermodynamic entropic ability to do physical work etc and since the global peak energy production hit during the end of 2019 (with convention high EROEI having maxed out during 2008) and global EROEI is rapidly diminishing, its clear that we are now in a Fractional Reserve Energy Economy where there are much more dollars out there than can find, bind or otherwise pair with real energy deposits to effectuate the work needed to actualize the value and purchasing power of said dollar.
The dollar is already dead, this is why QE is hitting back in the homeland with "transitory inflation" now... America's structural inability to deal with lower EROEI threshold is why even as it prints to infinity it still entered a recession while denying the obvious, you can con the world for a while but you cant trick the 2nd law of thermodynamics in the long run
China is not playing this game anymore... In the age of 5G/6G and the era of the post-blockchain, money has become like everything else "software defined" and programmatic... what did you think the digital e-Yuan was about? Or BRI and bilateral trade or Xi meeting with SA next week? PPP GDP China is by far the largest real economy in the entire history of the world as well as by far the largest global trade partner with the most nations in the world. Its now breaking free of US chip semiconductor containment as well as securing its energy needs from various sources. So you are Alibaba who had always defaulted to using VISA for payments on your ecommerce site but then one day VISA decides to build its own ecommerce store but instead of competing fairly it tries to kill off Alibaba by blocking it from using VISA thinking Alibaba will just go into a corner and die and VISA will get all that customer base overnight, instead what really happens is Alibaba announces the very next morning that it had been already working on Alipay and that henceforth going forwards VISA will never be accepted again
There is no need to use the US dollar at all... China invented paper currency but its next implementation will topple the current "financial hegemon" as you seem to put it. You shall see in 18 months time or sooner give or take a couple months
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You're quite passionate about EROEI, I'll give you that, that's as fundamental as it can go where all existence are concerned. Of course, everybody could have their own views and they don't necessarily have to be in agreement, at least not all the time. Some tidbits you mentioned could be ticked off as supporting evidence for your general argument along the line of it's really bad, but wait worse is definitely coming soon and in 18 months, and I believe it is really pushing it. Weekly inflows and outflows numbers across the globe so far don't show that tendency. The beast will be dead in 18 months, that's some big claim, just like mirror image of China collapse any day now crowd. Chinese dynasties collapsed because they failed to develop functional domestic banking system, despite inventing paper money first. So instead of wishful thinking about the beast demise, we should observe and learn how this extensive system is built and maintained, warts and all, as China would in some way resemble what US is today when she becomes the top dog.
But the former consists of manlets.
If there is any further sign that God (not the fake in that those America nut cases love to quote) is going to bring judgement to this evil nation….. well seriously how is such absolute sign of disrespect allowed in this world. The USA is a nation that has become a blight on humanity and deserves to be completely destroyed, end of story
If you make exception for her when and where does it end when soon most of senior America will be in the exact same spot! The sad fact is US overextended the last 70 years and its too late to fix the structural issues now...