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0 sats \ 2 replies \ @optimism 20 Feb \ parent \ on: Milei's promotion of shitcoins is turning into a real scandal Politics_And_Law
Oh I will be the last to challenge you on the US part. When Trump talked about Ukraine the past 24h it was kinda ... unique and it made the US look unreliable af. But this is a mere reflection of the national identity crisis in large part due to the polarization going on. And it's not just in the US, it's all over the EU, Canada, the UK, Australia and NZ too... The arguments you hear politicians post on the daily in all these countries are very weak: party lines or preprogrammed narratives. High "told you so" factor because everything gets narrated back to divide further. Nothing actually intelligent enough to be worth mentioning has been detected by yours truly in at least a decade.
you're saying that this statistic is now 2x, from 1.15x a year ago? (source)
No I said manufactured GOODS.
The US services exports are mostly financialised products like the trillions of USDs finance and debt (and insurance) that the US is now reliant upon and that is based upon its USD Reserve currency status.
For example where I live- here in New Zealand- 80% of the banks are majorityowned by US shareholders- they extract massive profits from NZ every year and route them via tax havens to their US bankers owners.
They sponsored 2 of our last three Prime Ministers. One came directly from BoA/Merril Lynch.
After the large amnd devastating Christchurch earthqauke of 2010-2011 that PM arbitrarily ordered the demolition of repairable civic structures before they had been assessed for insurance- the insurer was AIG.
He did a similar trick on residential homeowners arbitrarily ordering over 10000 homes 'redzoned' which meant they got an offer from the government which bypassed reinsurers and short changed homeowners and saved US reinsurers billions.
The fiat debt slavery bankers cartel now owns and controls most governments.
Not only do the US owned banks extract huge profits they also fund these NZ banks capital requirements- these USD capital funding supplies are booked in NZ as taxable expenses reducing the tax liability of the banks while these payments are again routed via tax havens to their US bank funders. How are these USD capital funings created- out of thin fucking air.
This is how the US economy is now hugely reliant upon the fiat debt slavery bankers cartel.
China exports manufactured goods double the value that USA does. And that was what I said in the first place.
Agree most politicians speak from a script -they are puppets to the corporate banker sponsors who own them- Biden was a classic and sad example of this. It is right across the so called liberal western democracies with very few exceptions. Trump does not speak like that and I can see the appeal- he talks like a gangster and comes across perversely more genuine than the other sponsored puppets...but that's only because Trump is a genuine sociopathic shyster and never had any morals to begin with.
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The statistic I posted above excludes factor services (i.e. capital flows including dividends like you describe above) and things like salary remission. See the metadata definition (this took me forever to navigate because it kept crashing my browsers - worst performing site ever, sorry)
I think that we cannot just measure goods anymore like in the 60s. In 2023, digital service exports alone netted over 600bn for the US - a significant portion of US exports. Those are not shady investments but actually deliver great value. We cannot ignore that. Most organizations I've worked with outside of the US use AWS, Azure and/or Oracle Cloud. Also if they have otherwise fully domestic supply chains, simply because there aren't real contenders. I've directly seen this evolve starting around 2014 in EMEA, LatAm and even APAC - despite Alibaba competition - first hand. Hundreds of thousands of people are employed in these businesses, and they're extremely profitable.
If you want to compare nation states, the apples-to-apples comparison is to exclude as little as possible.
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