Interesting, but are their dollars really being "debased?" Maybe, if they are coming here to buy bacon or used cars, but relative to other currencies, dollars seem to be holding their own.
What’s the profit for China and Russia to attack the USD? And don’t say their leaders are malevolent. They are working to the best interest of their countries. I think you get their motivation wrong. However, their actions might be coordinated and it’s result might be weakening of USD. My point, it doesn’t have to be like that, if US acknowledged legitimate interests of other countries.
America must ally itself with Russia and the broader Christian world to stop the sinicization of the globe. It is probably already too late for that, as our foreign policy establishment has been the exclusive domain of our dumbest and most unexceptional people for decades. Go look at the housewife they sent to "negotiate" with Russia's envoy. This woman should be sharing matzo recipes with her sewing circle, not playing make believe that she's a new Bismarck. Trump was right to want to disengage from much of our meddling abroad, but not for the reason he said. Beyond the moral case or strategic case for the venerable American tradition of isolationism, the fact is we lack the capacity to put competent people in public service. Victoria Nuland, with the might of a thousand unbeatable armies, will still fuck up whatever you ask her to do, because she, and everyone in the state department, is either an incompetent moron, or an Israel humping neocon who can't see past their tribal allegiances. Again, she should be playing Canasta in the Catskills, not deposing Ukrainian pols.
Good piece. A couple of things to keep in mind. First Russia is a tiny economy. $1.7T. Smaller than France. China and Russia have massively declining populations. We need to think about what a smart strategy would be for the USA going forward. We see the errors we’ve made in terms of our military and economic misadventures. Can we recover? We have the people and the resources to bring manufacturing home. We need to acknowledge that the political Left is a wing of China and Russian strategy and tactics- climate rules, unions, undermining police, institutions and even the concept of gender all while flooding us with social media distractions - we need to recognize all of this. Due to inflation and populism it will only get more expensive to bring manufacturing home without deregulation. $15-20 minimum wage is insane. We need to get rid of minimum wage- allowing kids to work and gain experience for $5-7/hr is fine. Ditch the absurd ESG movement and Start up oil natural industry while also acknowledging nuclear is our best path forward for electric districted power.
Not sure we can do all of this given the media and complacency but once the dollar gets crushed we will have to re-evaluate our political errors as well.
The US traditionally was able to wage 2 major wars at the same time. That has been reduced to just one. NPR had a talk about China investment in the African continent ( for their natural resources)which would make sense from the standpoint of gold and raw materials.) An interesting point- most of the African nations are relatively new;emerging from previously Colonial powers. Many are feeling their way onto the world stage with less than stable results. When debtor nations are unable to meet financial obligations the result is often defaulting on loans. Putin wants Ukraine because it’s the only way in and out of the Black Sea.
Apart from anything else, is the standard of living in Russia or China enviable from a world perspective?
An interesting and all too realistic and grim scenario, Craig. A 2010 McKinsey study on debt and nations looked at debt/GDP greater than 100% in 24 nations - In almost every case, the only solution to the "debt problem" was...austerity. Not mcuch appetite for that in the USA, is there?! A friend of mine works in the local unemployment office. A gentleman came in the other day to ask for a break from his weekly search for work as he had scheduled a three-week vacation and would not be able to document his work search during that time, as is required to maintain unemployment eligibility. He was asking to be paid for that time while hanging in warmer climes! Alas, this kind of request is all too common according to my friend.
Additionally, Ukraine is a huge country of enormous natural resources - uranium, manganese, coal, and other minerals, huge farmlands and grain crops - No wonder he is on the doorstep, interested in pursuing Russian "destiny". I covered some index puts on Friday...Lookingf ro a green market open to put another round in place! Also long gold, uranium, oil...
Interesting, but are their dollars really being "debased?" Maybe, if they are coming here to buy bacon or used cars, but relative to other currencies, dollars seem to be holding their own.
Last week, Argentinas’s president met Putin. He said that Argentina will be the entrance door for Russia to enter Latin America.
Argentina get the Sputnik vaccine during pandemic, and Russia helped financially Argentina since Argentina has no access to international credit.
This is very dangerous.
What’s the profit for China and Russia to attack the USD? And don’t say their leaders are malevolent. They are working to the best interest of their countries. I think you get their motivation wrong. However, their actions might be coordinated and it’s result might be weakening of USD. My point, it doesn’t have to be like that, if US acknowledged legitimate interests of other countries.
America must ally itself with Russia and the broader Christian world to stop the sinicization of the globe. It is probably already too late for that, as our foreign policy establishment has been the exclusive domain of our dumbest and most unexceptional people for decades. Go look at the housewife they sent to "negotiate" with Russia's envoy. This woman should be sharing matzo recipes with her sewing circle, not playing make believe that she's a new Bismarck. Trump was right to want to disengage from much of our meddling abroad, but not for the reason he said. Beyond the moral case or strategic case for the venerable American tradition of isolationism, the fact is we lack the capacity to put competent people in public service. Victoria Nuland, with the might of a thousand unbeatable armies, will still fuck up whatever you ask her to do, because she, and everyone in the state department, is either an incompetent moron, or an Israel humping neocon who can't see past their tribal allegiances. Again, she should be playing Canasta in the Catskills, not deposing Ukrainian pols.
Good piece. A couple of things to keep in mind. First Russia is a tiny economy. $1.7T. Smaller than France. China and Russia have massively declining populations. We need to think about what a smart strategy would be for the USA going forward. We see the errors we’ve made in terms of our military and economic misadventures. Can we recover? We have the people and the resources to bring manufacturing home. We need to acknowledge that the political Left is a wing of China and Russian strategy and tactics- climate rules, unions, undermining police, institutions and even the concept of gender all while flooding us with social media distractions - we need to recognize all of this. Due to inflation and populism it will only get more expensive to bring manufacturing home without deregulation. $15-20 minimum wage is insane. We need to get rid of minimum wage- allowing kids to work and gain experience for $5-7/hr is fine. Ditch the absurd ESG movement and Start up oil natural industry while also acknowledging nuclear is our best path forward for electric districted power.
Not sure we can do all of this given the media and complacency but once the dollar gets crushed we will have to re-evaluate our political errors as well.
The US traditionally was able to wage 2 major wars at the same time. That has been reduced to just one. NPR had a talk about China investment in the African continent ( for their natural resources)which would make sense from the standpoint of gold and raw materials.) An interesting point- most of the African nations are relatively new;emerging from previously Colonial powers. Many are feeling their way onto the world stage with less than stable results. When debtor nations are unable to meet financial obligations the result is often defaulting on loans. Putin wants Ukraine because it’s the only way in and out of the Black Sea.
Apart from anything else, is the standard of living in Russia or China enviable from a world perspective?
An interesting and all too realistic and grim scenario, Craig. A 2010 McKinsey study on debt and nations looked at debt/GDP greater than 100% in 24 nations - In almost every case, the only solution to the "debt problem" was...austerity. Not mcuch appetite for that in the USA, is there?! A friend of mine works in the local unemployment office. A gentleman came in the other day to ask for a break from his weekly search for work as he had scheduled a three-week vacation and would not be able to document his work search during that time, as is required to maintain unemployment eligibility. He was asking to be paid for that time while hanging in warmer climes! Alas, this kind of request is all too common according to my friend.
Additionally, Ukraine is a huge country of enormous natural resources - uranium, manganese, coal, and other minerals, huge farmlands and grain crops - No wonder he is on the doorstep, interested in pursuing Russian "destiny". I covered some index puts on Friday...Lookingf ro a green market open to put another round in place! Also long gold, uranium, oil...