People just tend to see the currency only, not the financial traditions, ethos, and various systems, good and bad, existing and defunct, standing behind them. East and West have their own financial histories, traditions and practices that run very deep in respective social, cultural and political structures. A currency may come and go, but what stands behind them continues. They have been there since millennia before, each culture continuing and evolving on their own, or learning from each other when they can. Think of it as a common human endeavor, even though it's definitely wrapped in political power in the most exploitative sense. Not just the excesses and horrible headlines, but also the wealth of practical usefulness and applications. Of course, USD, or any other ones, past, present and future will ultimately fall in relevance; what matters is to learn what works in a specific circumstances, so that people don't suffer, just like before.
American Economics Thread
- Thread starter Bernard
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People just tend to see the currency only, not the financial traditions, ethos, and various systems, good and bad, existing and defunct, standing behind them. East and West have their own financial histories, traditions and practices that run very deep in respective social, cultural and political structures. A currency may come and go, but what stands behind them continues. They have been there since millennia before, each culture continuing and evolving on their own, or learning from each other when they can. Think of it as a common human endeavor, even though it's definitely wrapped in political power in the most exploitative sense. Not just the excesses and horrible headlines, but also the wealth of practical usefulness and applications. Of course, USD, or any other ones, past, present and future will ultimately fall in relevance; what matters is to learn what works in a specific circumstances, so that people don't suffer, just like before.
Its started folks, the company which I work for that has traditonally been recession proof and didnt even cut back in 2008, this morning laid off more than 10% of workforce, most will be cut this afternoon, but IT was notified first, its enough to trigger the threshold for Texas Warn Act and this is probably just first round...
The complete divorce from reality happened after the end of Bretton Woods at the seventies. Soviets attended the first discussions of Bretton Woods, 1944 but they soon left complaining that this isn't a real Economics conference but a Wall Street predecided game. They are thieves lol
Petrodollar aka US military holding OPEC hostage and by extension the rest of the world, is what propped up the dollar after the 70s.
When Saddam switched to taking Euros for oil all of a sudden claims of WMD arose...One month after Baghdad was taken over by US forces, the new puppet Iraqi gov went back to US dollar standard.
This is the real purpose of those 11 aircraft carriers and 900 military bases... to defend not the nation of America but rather its exorbinant privelege... of pilliaging and harvesting the entire world
Bro to defeat a Mafia Boss you had to employ another Mafia Boss, The Russian demand lesser Pizzo than the Americans and it come with beautiful Russian girls than the Obese American...lol
Now that conventional crude is running out and China is switching to EV, renewables, and nuclear, etc the US in desperation to extent the Dollar one more time hatched up a new plan... it needs to find something the whole world needs then seize it by force and control a monopoly on the chokepoint and force everything who wants it to pay for it in dollars .
In the past this was gold, then when gold ran out they switched to holding OPEC's oil hostage, and now its computer chips, and semiconductor fabs and supply chains by way of CHIPS4 and coerced knowledge IP transfer and people/company transfer... to empty out TSMC and force the other players like Korea and Japan to all contribute to helping expand US IC efforts, basically the hegemon has made its calls and deputized/nationalized its vassals IC industry and with intent to commandeer and consilodate it under its own umbrella, using this bottleneck to force the world to continue using the dollar else face complete chip sanctions and blanket IC bans....
The problem is this time it wont work, because China has already broken through the silicon ceiling.... This is why Pompeo stated China is the central threat of all times, because only China can put an end to this continued enslavement of all mankind by the USA
Well, this is exactly what happened with East Asia, and frankly in general they are still doing far better than US when it was focused on liberal arts. So yes, even if you have to pressure people to study STEM, it will still deliver some tangible results.
Most people don't have the capability. The only STEM that really makes money in the US is CS and EE.
We talk about semiconductor manufacturing alot in this forum but it is well known that semiconductor fab/equipment engineers and scientists are very underpaid and overworked.
The further away from the fab you are in design and software the more money you make.
At least I don't spend the entire day in the cleanroom, just occasionally, since I work in equipment and not foundry.
It's about China but this is well known among fab, lab and equipment building workers. They've just scrubbed all the references to US semiconductors. It's the same.
Its hilarious that the conclusion the twitter person you quote is the exact opposite of the conclusion you came to.
CS programming is just another language, if you start young enough its not that hard.
But the most valuable talents are those with good communication skills, leadership with people skills, decent critical thinking skills, but amazing social skills. You can't teach that. They get paid the big bucks.
Go to the math department of any good university, STEM nerds are dime a dozen. CEOs or senior managers are almost never the best programmer or engineer.
Military commanders/generals' IQs are rarely in the top 1%, but its prob in the top 10-15% (not that high compared to STEM grads). But they all have extremely good people skills, razor sharp sense of humor, and high EQ. You can't teach that.
China doesn't need more STEM nerds.