Earlier quoted context omitted.
>America being the "leader of the free world" has benefited it immensely. It doesn't make a difference. See this graph: https://upload.wikimedia.org/wikipedia/commons/0/01/GDP_per_... GDP growth stayed on the same trend both before and after the US tried to "lead the free world" post-WW2. >military power projection That's a cost for us, not a benefit. I don't want my tax dollars to be "projecting power". I want them…
> military power projection > That's a cost for us, not a benefit. If id get a cent for every US-american not understanding their hegemonial privilege... (Sorry, shouldnt be an insult. Its just so prevalent and to me, a sign of lacking self criticism on a worringly massive scale.) Eg: https://business.columbia.edu/research-brief/dollars-dominan... TLDR: The US military backs the dollar as international trade currency…
I really don't think the US has any shortage of self-criticism. I am criticizing US policy at this very moment! It is you who defends current US policy and says it is good (for the US at least). I am the critic here.
But if you really believe what you're saying about self-criticism, that's evidence for my position that the US should not play world police. If we're incapable of self-criticism, we will do a bad job at world policing.
>TLDR: The US military backs the dollar as international trade currency, which puts all other nations in a depending position to lend USD. This allowed the US to cheaply amass a gigantic debt that in turn allowed ridiculous (military) budgets.
"There once was a fisherman relaxing on the beach, catching just enough fish to feed his family. A businessman told him he should work hard, hire employees, catch more fish, and grow a big company—then, after many years, he could retire and live a peaceful fisherman's life. The fisherman smiled and said, ‘But isn’t that what I’m doing right now?’"
Assuming you are right: We need the debt to fund our military. We need our military to borrow for our debt. Why are we playing this game, exactly? It's a cyclone of vice.
Personally, I think the USD would actually be a stronger reserve currency if we reduced international adventurism. This would reduce the incentive of other nations like Russia and Israel to interfere in our politics, and thus improve our institutional stability. Switzerland is very stable, and an attractive investment destination, because it is known to be neutral.
It's also not clear to me if reserve currency status is a good thing. It makes our exports less competitive, and increases our trade deficit. It's like eating cookies for every meal. Sure, you're getting a lot of calories. But it's not good for your health in the long term.
If you look at the GDP trendline, it's been the same regardless of USD reserve status. So I'm additionally just not sure this matters either way.
In any case, if you really believe what you are saying, you should be very happy about my advocacy, since it increases the chance that your nation's currency becomes the new reserve currency. Oh boy, your country might take on a ton of debt and become the new self-appointed world police, hated by all, with constant foreign interference in your politics! Isn't it grand?