Thomas Piketty: 'The reality is the US is losing control of the world'

Post by justin66 » Fri, Dec 19, 2025, 6:15 PM UTC

pfdietz wrote: post #210

justin66 wrote: post #208

Earlier quoted context omitted.

"Propping up our allies" in Europe and therefore having a great deal of sway in international affairs netted the United States a great deal of money for a very long time. There's a longer argument to be had (one directly related to what Piketty is saying) but clearly no desire for it, which is fine.

You mean, it allowed the US to continue to borrow beyond its means without being called on it. Thanks a whole lot, world.

Look at the chart representing the US national debt (or debt to GDP) and pick a point at which you say "wow, that's when we started borrowing beyond our means." I rather doubt the date you pick will be anywhere close to the time eight decades ago when the US decided to start "propping up our allies." That worked well for us financially for a really long time, and the contributors to the current debt crisis lie elsewhere.

Re: Thomas Piketty: 'The reality is the US is losing control of the world'

Re: Thomas Piketty: 'The reality is the US is losing control of the world'