21–30 of 77 posts
A few bones to pick: 1. It's been known for decades that it's essentially impossible to not run a trade deifict with a reserve currency. It's called the Triffin Dilemma [1]; 2. The US Dollar is unlike gold in that you can create it out of thin air at any point. Many gold bugs and Crypto Andys (who are usually the same people) have a problem with this. This isn't actually a problem because the notion of "value" is com…
A few bones to pick: 1. It's been known for decades that it's essentially impossible to not run a trade deifict with a reserve currency. It's called the Triffin Dilemma [1]; 2. The US Dollar is unlike gold in that you can create it out of thin air at any point. Many gold bugs and Crypto Andys (who are usually the same people) have a problem with this. This isn't actually a problem because the notion of "value" is com…
> But the most revealing parallels relate to a different expansionary dynamic—that of money. The key to so much else that happened to both countries was the appearance of what seemed like unlimited wealth but was actually access to unlimited quantities of a universal medium of exchange, craved and accepted everywhere. If you can’t tell the difference between stealing a bunch of gold in a gold based economy and the US…
“ People care about the US Dollar because of the backing of the United States and its economy. ” This may be changing. The US may have overextended its “credit line” if you will.
The US has an almost unlimited credit line because investors are clamoring for it. It's literally the best, most stable investment going right now. They wanted it to be the EU and it has not been. They wanted it to be BRICs and that is a flaming dumpster fire right now. Very soon, they will state Africa is a better bet than the US. It's a young, dynamic economy; the very opposite of stable.
Then...
> The American ruling class found itself compelled to spin bizarre fantasies of Russian “disinformation” to explain away the results of the 2016 election. It can no longer tell you what a woman is, and has gone to great lengths to censor and suppress stories—the Hunter Biden laptop, the Wuhan lab leak—it later acknowledged to be true or plausible. The same elite ties itself into absurd knots to deny the fact that it seeks to establish a system of racial quotas in education, government, and business.
Where the fuck did this come from?
Reading the article and nodding my head along at salient points. Then... > The American ruling class found itself compelled to spin bizarre fantasies of Russian “disinformation” to explain away the results of the 2016 election. It can no longer tell you what a woman is, and has gone to great lengths to censor and suppress stories—the Hunter Biden laptop, the Wuhan lab leak—it later acknowledged to be true or plausibl…
Earlier quoted context omitted.
> 6. One cannot overstate the importance of slavery to American economic development and power. Doubt. The economic decline of the American south was well on its way by the 19th century. That some prisoners today make license plates has no material affect on US GDP - this claim needs sources.
There’s a parallel in beasts of burden. Do some smallholders use them? Yes. Are they economical? No. Mechanization undercut the value proposition of slave labor and beasts of burden due to the costs of upkeep and their nature of needing rest and recuperation. With slaves you also had to have a an infrastructure to keep them from escaping -also true for animals but keeping animals corralled is cheap.
Slavery was wildly economically feasible, still is. All you need to do is add pressure to the workers and their performance increases. Like Amazon warehouse workers, but, you know, with whippings.
Reading the article and nodding my head along at salient points. Then... > The American ruling class found itself compelled to spin bizarre fantasies of Russian “disinformation” to explain away the results of the 2016 election. It can no longer tell you what a woman is, and has gone to great lengths to censor and suppress stories—the Hunter Biden laptop, the Wuhan lab leak—it later acknowledged to be true or plausibl…
Starts off as a thought provoking comparison and then suddenly becomes a politically driven doomsday prediction.