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0 sats \ 1 reply \ @Solomonsatoshi 8 Apr \ parent \ on: The White House admits the triffin dilemma is real econ
Agree many of the the assertions and assumptions Steve Miran makes are hyperbole and heavily slanted logic and bias but that is the rhetoric of the Trump administration.
Within that framing there is the core truth that US power and wealth is today based upon US hegemony over trade payments and financial markets backed by military force and threat and that that hegemony is now under threat due to the accumulated debt resulting from the last 50 years of trade and fiscal deficits.
That the truth is wrapped in a veneer of dishonest rhetoric and outright lies is because the US voter needs that veneer for the narrative to be viable.
Most US voters are not going to support a narrative which admits they have squandered their significant economic and strategic advantage over the last 30-50 years and now face the rise of China with an economy and monetary and financial systems that are close to insolvency.
The rhetoric of entitlement that Miran wraps the truth in is simply reflective of the sense of entitlement US citizens have come to have after more than 30 years of US exceptionalism and many more years of US imperialism.
What are 'these citizens' going to do... when the robots and AIs seriously come for their jobs? Ban AI?
And what are the citizens going to do when the tariffs (if they actually come to pass) in the US increase the prices of phones, electronics, and shoes like... 25-50%?
Americans in large part pay for the tariffs so while people are tired of inflation, prices are going to go up faster. And the 'reciprocal tariffs' hurt US exports so who all is going to buy the exports???
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