Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

The fraying of the U.S. global currency reserve system

lynalden.com

Post reply on HN
Print view View original

361–367 of 367 posts

Re: The fraying of the U.S. global currency reserve system

#361

Post by cylinder »

pugz wrote: post #256
AnthonyMouse wrote: post #181

Earlier quoted context omitted.

> More aggressive lockdowns initially could have limited the initial spread, and from there reasonable precautions could have been effective. This is what Australia did. Except that some of the measures they used may have been unconstitutional in the US, and Australia is an island. The US has 4500 miles of porous borders with other countries. And covid spreads asymptomatically, so the only way to get to where Austral…

Australia being an island has little bearing on this. It's not like the Covid situation in the USA is because of infected people crossing the border illegally: it happened because of legal travel. Trump's so-called China ban was a farce. It didn't stop USA residents from flying into the USA, it didn't even stop the immediate family of residents from flying to the USA. Australia closed all travel from China initially…

I keep saying this about the silly island argument. It's not like the virus is coming into the US via Mexico and Canada. And domestic travel was halted with state border closures. The key is slowing movement. It's been perplexing watching Americans proudly travel and holiday, even internationally, during all this.

Re: The fraying of the U.S. global currency reserve system

#362

Post by yuhong »

BoiledCabbage wrote: post #346
howmayiannoyyou wrote: post #141

Earlier quoted context omitted.

I'm here to tell you that Democrat controlled Congress will NEVER support the regulatory reforms necessary for domestic manufacturing to flourish in the US. At best, they will enact protectionist legislation that will result in a modest increase in US MFG, but nothing on the order necessary to make the US a major player in the global supply chain.

And I here to tell you that regulatory reforms won't bring back manufacturing jobs because they aren't what's stopping them. The reason items aren't manufactured in the US is due to the dollar being so strong. That's what makes American products so expensive. No regulation changes bring manufacturing back with this strong of a dollar.

In retrospect, I really wish the USD suffered hyperinflation in 1974 for several reasons, including for example: https://en.wikipedia.org/wiki/1973_oil_crisis, https://en.wikipedia.org/wiki/Church_Committee, https://en.wikipedia.org/wiki/Watergate_scandal, https://en.wikipedia.org/wiki/Whip_inflation_now, https://en.wikipedia.org/wiki/Nixon_shock https://en.wikipedia.org/wiki/Citizens%27_Commission_to_Inve...

Re: The fraying of the U.S. global currency reserve system

#363

Post by andrekandre »

te_chris wrote: post #206
tachyonbeam wrote: post #202

Earlier quoted context omitted.

Tesla is trying to do exactly what you describe. Build "the machine that builds the machine", as Elon Musk would say. I agree with you that trying to compete on low-cost, low-margin is a race to the bottom. We could conceivably bring manufacturing of iPhones back to America. I would also imagine that manufacturing of silicon is largely automated, so the US could try to build the best fabs.

Tesla has done some reverse Chinese equity investment swap thing and is now at least somewhat a Chinese company building manufacturing capacity and innovation in EVs. Musk is a lot of things, and one thing is clear: he’s an opportunist more than a US economic nationalist. He will not be the saviour of American industry.

> he’s an opportunist more than a US economic nationalist

its called being a capitalist; anyone leaving money (capital) on the table by favoring thier home country will get squashed by those who dont...

Re: The fraying of the U.S. global currency reserve system

#364

Post by mbesto »

jtbayly wrote: post #360
mbesto wrote: post #350

Earlier quoted context omitted.

The parent comment mentioned he is a registered republican, so its relevant. I was merely making a joke about that since they referenced that in their comment. They also mentioned: > the last LCD panel manufacturer in the US closed around then and we could no longer manufacture LCD for our military vehicles Where did they say it was a good idea or a bad idea? Where did I say it was a bad idea? My reply was commenting…

> Where did they say it was a good idea or a bad idea? The entire comment made the case. But if you want specifics, how about the sentences immediately prior to the one you pulled out of context: “I argued vociferously to a Dem friend in 2000 that our inability to manufacture critical components was going to kill us. Kind of literally:” But yeah, I’m sure the problem here is that I’m “triggered.”

There's a difference between saying corporate welfare is a bad idea and saying manufacturing in the US is a bad idea. I said the former and you inferred the latter. I criticized the implementation of an idea and you focused on the idea. It's amazing how predictable you lot are.

For the record - manufacturing output in the US is trending upward[0] (sans recession). Manufacturing employment is down, not because it's outsourced to China, but because its being automated.

[0] - https://fredblog.stlouisfed.org/2016/05/manufacturing-up-dow...

Re: The fraying of the U.S. global currency reserve system

#365

Post by JohnJamesRambo »

phyalow wrote: post #293
JohnJamesRambo wrote: post #66

Earlier quoted context omitted.

Bitcoin broke all time high a few weeks ago. :) Rats leaving the sinking ship that is the US dollar and all fiat currency seems to be happening very quickly. I hear almost everyone talking about it now, it isn't the loonies anymore. Money that isn't tied to whatever stupid policies your government has implemented will always be attractive. No one asked me if I wanted to prop up the stock market by printing ~25% of al…

What if I told you it was 64.5% not 25% https://twitter.com/NorthmanTrader/status/133808592857801932...

Ugh my information was not updated and I'm not sure I wanted to know that haha.

Re: The fraying of the U.S. global currency reserve system

#366

Post by JohnJamesRambo »

michaelyoshika wrote: post #164
JohnJamesRambo wrote: post #66

Earlier quoted context omitted.

Bitcoin broke all time high a few weeks ago. :) Rats leaving the sinking ship that is the US dollar and all fiat currency seems to be happening very quickly. I hear almost everyone talking about it now, it isn't the loonies anymore. Money that isn't tied to whatever stupid policies your government has implemented will always be attractive. No one asked me if I wanted to prop up the stock market by printing ~25% of al…

I really don’t understand why a hacker community would consistently downvote crypto currency related comments. Can anyone explain it to me? Like, folks can build their own cpu so not to be controlled by big companies, but they all like using money controlled by some big banks?

I've been surprised by this as well. I've always chalked it up to the fact that the average Hacker News commenter is likely a very rich Silicon Valley dev type that has a lot of USD stacked now and doesn't like to hear uncomfortable truths about money alternatives (no matter how cool and techy and decentralized and open source crypto is), now that they have a lot of it.

Re: The fraying of the U.S. global currency reserve system

#367

Post by complexmango »

AnthonyMouse wrote: post #76
lettergram wrote: post #49

Earlier quoted context omitted.

My father was one of the last tool makers in the US working for Molex. They spent years teaching the Chinese, the Chinese would disassemble all molds sent over to China and often break them, so my fathers team would have to fix / rebuild them. They spent years training the Chinese side-by-side in the US. In the end they still haven’t exactly caught up to the quality we had in the US. However, they now have 5x the too…

> To compete, you really do have to cut minimum wage. You have to loosen regulations, and importantly, you have to do massive tariffs / sanctions on China for the next decade. Part of the problem here is that the existence of some kind of universal "more regulations / less regulations" slider is an illusion. It allows the problem to be cast in partisan terms when that isn't the problem at all, because the problem isn…

Google ‘regulatory capture’
Post reply on HN