Random Chat Thread VIII (Aka the world politics shitfight thread)

[DesertRoo]

Clinton delivered three consecutive surpluses in 98/99/00.

Deficit is a choice and one they can only sustain while $USD is the world's de facto reserve currency.

Their choice to weaponise that status via sanctions has led to countries recognising the danger of a USD denominated world.

I don't think BRICS is as powerful as many others do, nor do I dismiss it like others.

But one outcome of the Ukraine War so far is that Western sanctions absolutely have a limit and are survivable.

Russia's main economic issue is they are running their wartime economy too hot, not that the sanctions did anything.



They have numerous threats to their economy, obviously climate change is a massive issue.

Trump's economic madness can hurt them very badly.

Thing with the US is its sheer size, population and geography, means they can operate as a self sustaining unit if they want - they have all the energy, minerals and food they need.

Was it Bismarck who said God looks after drunks and the US?

Like, lithium is the new gold, of course they're finding huge deposits of across the US.

The real economic basket case is Britain, they're utterly stuffed.

They have to start producing to not end up of the last days of the Roman Empire, where their biggest export was manure.
One problem I see for the US if it does go all isolationist, is they have to restart supply lines again.
It’s going to be a monumental task, the quickest way posible would be enforced industry consolidation but that would would be completely against a capitalist ideology. How do you compete with China at manufacturing at present?

Completely agreed with UK, I think they’re were stuck trying to be Singapore to China, whilst watching the EU tear itself apart.

Going to be such an interesting ride the next four years.

 

[DesertRoo]

I'm not an economist. The whole thing looks like rubbish to me. But I'm starting to think defecits don't matter. .... like ... where does money come from?

Yeah economics doesn’t make sense when you’ve only got one super power. I’m not sure the US is going to be able to keep the status of reserve currency anymore, Biden blew that game with the sanctions.

 

[Liam Boy]

this guy totally could've served until january 2029

 

[DesertRoo]

this guy totally could've served until january 2029

lol keep this up and you’ll be added to the imaginary clique

 

[Ligma]

lol Americans jumping onto a Chinese social media platform ‘red note’ because TikTok is getting banned.

And these red note users are calling them TikTok refugees

 

[Chadwiko]

The Koch brothers brought the republican party in 2010 via the Tea Baggers and then almost shut down the US government. They brought states as well.

Yes, and it's still nothing in comparison to the current situation.

 

[ferball]

Yes, and it's still nothing in comparison to the current situation.

This is just the moment when they take down the scenery and move the chairs and tables out of the way.

 

[The Dark]

They have to start producing to not end up of the last days of the Roman Empire, where their biggest export was manure.
One problem I see for the US if it does go all isolationist, is they have to restart supply lines again.
It’s going to be a monumental task, the quickest way posible would be enforced industry consolidation but that would would be completely against a capitalist ideology. How do you compete with China at manufacturing at present?

Completely agreed with UK, I think they’re were stuck trying to be Singapore to China, whilst watching the EU tear itself apart.

Going to be such an interesting ride the next four years.

FDR did it, they just need a really big war.

 

[Liam Boy]

lol Americans jumping onto a Chinese social media platform ‘red note’ because TikTok is getting banned.

And these red note users are calling them TikTok refugees

I'm on there, it's good fun

 

[The Brady Bunch]

This x infinity.

People who think government debt/deficits = household debt/deficit are among the stupidest people in the world.

Sadly it is a simple sell to the electorate when parties hit election time, because most people can't or don't want to understand actual economics.

Dutton will roll hard with it.

It's also an issue of scale and leverage, or as J Paul Getty put it:

"If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem."

In other words, the bank can foreclose on a household debt and cease assets. It's a little bit harder foreclose on a country.

 

[ferball]

It's also an issue of scale and leverage, or as J Paul Getty put it:

"If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem."

In other words, the bank can foreclose on a household debt and cease assets. It's a little bit harder foreclose on a country.

The IMF and World Bank try hard to in the developing world.