America was in practice running an empire that collected tribute from the rest of planet earth in exchange for entries in a database denominated in a currency they controlled and that was accepted everywhere. Really the only way it could go wrong is putting it under the control of someone who doesn't understand the kayfabe...

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rapind an hour ago | parent | next [-]

> someone too stupid to understand

That's only true if he's actually "your guy". There's an alternative where it's not stupidity that I think more people should be mulling over.

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IAmGraydon 27 minutes ago | parent | next [-]

The fact that he has done countless things that are harmful to the US and not a single thing that is in the country's best interests tells me all I need to know. Either he's aligned with an enemy or he just hates the country and wants to destroy it.

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ejoso an hour ago | parent | prev [-]

Say more

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BobbyJo 43 minutes ago | parent | next [-]

Being a reserve currency puts a gun to your economy's head. It creates an asymmetry where domestic production of material goods has to jump a gap created by favorable exchange rates in PPP terms. Its great for the day to day life style of your citizens, as other economy's do indeed pay tribute, in a sense, to their consumption of goods produced overseas. However, being paid to do nothing becomes a real problem when the checks stop coming. We're basically the national equivalent of a middle manager who's forgotten all the skills that got him there, and we can voluntarily move back down and start to work in earnest again, or wait to get laid off with no severance.

	▲	fnordpiglet 28 minutes ago \| parent [-]
		As someone who lives a day to day life, I’m pretty happy for things that are good for my day to day life. Some abstract quasi moralistic reason that things should be tougher so we compete harder feels a little out of touch. I’d note that it’s not the case the US produces nothing, or that it’s lost its capacity to innovate. Effectively most technology, especially software, but hardware as well, is concentrated in the US. Some aspects of the heavy manufacturing and assembly line happens elsewhere but I’d level the middle manager more at the EU. No, we are taking our advantages and lighting them on fire for no obvious reason. Backing into a rationale doesn’t make it rational. Its Christian nationalism fueling raging narcissism made malignant due to senility. Theres no experts, no adults, no experienced people - they’ve all be fired and replaced with sycophantic photogenic personalities. This is not good, there is no upside, it’s Nero hosting UFC while the empire burns. The only out I see is nature helping end this or a total seismic change in Congress and removal from office. Then rebuilding can start and maybe there’s something to salvage. But I doubt it, and I expect the next generations will exist in the rubble of the colosseum.

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deanputney 40 minutes ago | parent | prev [-]

They are arguing that Trump is controlled by a foreign adversary and doing these things at their direction.

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bijowo1676 an hour ago | parent | prev | next [-]

elections have consequences...

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laughing_man an hour ago | parent [-]

[flagged]

	▲	aloha2436 an hour ago \| parent \| next [-]
		> More importantly, in the context of this discussion, every president since Bush's first term has had larger deficits than any previous president, regardless of party. Taking on long term debt at or below the risk free rate _is the point._ It didn't devalue the currency because the global economy was structured around buying that debt. You just need to not jeopardize that second point.
	▲	rapind an hour ago \| parent \| prev [-]
		This glosses over what Bush was handed from the previous guy and then what he left behind for the next guy.

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shake_head_pig2 21 minutes ago | parent | prev [-]

[dead]