Calm down, man。
American Economics Thread
- Thread starter Bernard
- Start date
"US is, first and foremost, a financial empire"
Yes, America was a military empire and now it is a financial empire.
1970 would be the first date I can think of to date this transition, for lack of a better one.
The day the dollar falters, the Anglo Empire 2.0 will melt like sugar in water.
Yes, America was a military empire and now it is a financial empire.
1970 would be the first date I can think of to date this transition, for lack of a better one.
The day the dollar falters, the Anglo Empire 2.0 will melt like sugar in water.
My estimate of the "Event" is about 30 years. It is not a good estimate because it is very crude, but I have no other estimate.
On the one hand, Western empires have lasted 200 years from their distant beginnings and 100 years as an empire in the strict sense. The beginnings in the broad sense can be dated back to 1846 with the attack on Mexico and in the strict sense 1945 with the imperial founding act in Hiroshima and Nagasaki. Thus we would have +200 and +100 = 2045. Of course this is a bad estimate because it is very inaccurate.
On the other hand, from previous cases we see that from the time the first prophets announce that the "Event" is imminent until it actually happens it usually takes about 30 years. So I am inclined to think in say 2050 which we could skew towards 2049 evidently.
So although they are two rather bad estimates they are not horrible either, and at least they serve to express my impression.
On the one hand, Western empires have lasted 200 years from their distant beginnings and 100 years as an empire in the strict sense. The beginnings in the broad sense can be dated back to 1846 with the attack on Mexico and in the strict sense 1945 with the imperial founding act in Hiroshima and Nagasaki. Thus we would have +200 and +100 = 2045. Of course this is a bad estimate because it is very inaccurate.
On the other hand, from previous cases we see that from the time the first prophets announce that the "Event" is imminent until it actually happens it usually takes about 30 years. So I am inclined to think in say 2050 which we could skew towards 2049 evidently.
So although they are two rather bad estimates they are not horrible either, and at least they serve to express my impression.
2049 is being optimistically generous... I would say it was in 2019
When as a kid in elementary school years my parents would frequently take me back to China to visit... one time it was winter break and especially cold in our town in China and I wanted to take a shower but the hot water only lasts 5 minutes.
In the beginning the hot shower felt really good, and the knob was more or less in the center between hot and cold. Then as the minutes went by it gradually got less warm and then got colder... In an effort to maintain the comfortable warm temperature I would have to turn the knob ever so slightly towards Hot direction to adjust and compensate. But soon I was finding myself needing to make larger adjustments and more frequently... eventually the knob went full deflection to the Hot side and that is when I knew that the next time it went cold again that it was it, game over....
A few months before Covid hit, even before the mystery vape/ecig incident near Fort Detrick, there was the sudden REPO meltdown that seemingly came out of nowhere
Then during Covid the United States was able to convinently print 50% of all the dollars that were ever in existence in the span of just two years, under the mask of "lockdown stimulus".... had it done this without covid and without a lockdown then the rest of the world would have fugured out something was wrong....
Now, three years since the REPO issues first started, the US has printed more than 80% of all US dollar in the entire history of its existence in the mere span of the last 3 years... Let that sink in for a moment...
Yet it still entered into a recession, with real inflation likely in the mid 20% percent, supply issues everywhere and no cheap labor to be found....
This time it didnt work, unlike 2008 it could no longer print its way out of a mess by forcing the rest of the world to shoulder the burden and carry the debt. This time things hit home.
It has turned the knob all the way to the end but the water coming out was still cold...
The dollar is already dead, it just takes it a while for the reality to reflect......
What about CHINA'S coccomunism as @Broccoli the Chinese disinformation scholar would always say....
Just watch the financial markets.
The next financial crisis could be the last one for dollar hegemony.
Europe has not been the same after the 2008 financial crisis.
This Russia Ukraine was, has turned into an economic crisis for Europe. The United States played its cards well.
Next time, who knows.
The whole point of the cryptocoin and blockchain revolution was to switch to a decentralized form of banking and accounting/transaction system... In the 4th industrial revoluton and the age of Quantum, AI, 5G, blockchain and crypto and where everything is getting digitalized and virtualized and Software Defined etc it no longer makes sense for the world to rely on a single global reserve currency...
The US has not been a good steward of the US dollar, which has lost 98% of its entire value since the turn of the last 19th century and argueably based on shadowstats and even 1980's CPI metrics has lost over 50% of its purchasing power in the last two decades alone.
One can think of the USD reserve currency as a platform that all nations have to "buy in" in order to buy energy from OPEC (hence the term petrodollar hegemony whereby US military "protects" the oil producing nations and in exchange for that "protection" the oil OPEC group agrees to only accept USD for energy purchases)... so basically its an enforced taxation (usury) on the rest of the world... everyone pays for Uncle Sam's exorbinant privelege, subsiddizing America's lifestyle and bragging rights, and all countries trading in dollars essentially acting as the taxpayer that makes US military and its defense budget and its 11 aircraft carriers all possible...
But the dollar is no longer sustainable. For too long America has abused its privelege and lived way beyond its means, and now instead of scaling down and downsizing at home, it chooses to go to QE infinity and let the rest of the world suffer by forcing them to pick up a tab that they can not afford... basically by printing to no end especially exponentially with wreckless abandon the last few years the US is basically already giving up on the dollar and knows that its about to be game over soon anyway, so why not one last swansong riding on the house of cards before it all comes collapsing down... and this is why it did one last "Great Harvest" of the world by printing to the stratosphere and getting 30 Trillion in debt... which will never be paid back not one penny
It just rug pulled Europe, and now the Middle East sees that writing on the wall that they will be the next to get sanctioned and suffer the same fate as Russia to have their assets and accounts frozen...
There comes a point where the world will out of necessitiy of existential survival and self preservation collectively in one fell swoop pull the rug from out underneath the USD dollar and thus the US empire
Your American landlord keeps jacking up your rent but what can you do? Now with China building inexpensive hi-rises you can move to Chinese lease which doesn't extort you and offer cheap prices! and the condos are newer and a lot more luxurious
Last edited: