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40 sats \ 18 replies \ @Undisciplined 3 May \ on: Don’t Count the Dollar Out Just Yet econ
He's all over the place on this stuff, most likely because his grasp on economics is very flimsy. Most of what he pushes for would involve a weaker dollar, although he claims explicitly to want a strong dollar and is willing to threaten violence against other countries who think about reducing their dollar demand.
Basically, you can't have it both ways, but he wants it to have his cake and eat it too.
He's a Wharton economist and avowed Jacksonian, operating with the largest intelligence apparatus ever conceived with resources focused on this issue because it's been a festering national security liability for almost a century.
His VP is the poster boy for the Triffin Dillemma that literally speaks of it, and his Treasury Secretary might be the most consequential since Hamilton
But yea, he should have you advise him...
Most of what he pushes for would involve a weaker dollar
Not a single thing.
All roads lead to the dollar, which is why he can do this in the first place, even a Bitcoin global standard has to run through the dollar first to crush other fiats because there is no second best fiat.
The DXY dump was primarily repatriation into JPY and EUR, re-patriation during a covid scale trade uncertainty, and yet it is barely at 2 year lows and recovering fast, no other fiat has a path long term. The harder the tariff on a country the harder it's currency got whacked vs. the dollar.
Trade deficits, created by artificially inflated foreign currencies, bleed the countries wealth not its fiat currency. China didn't accumulate equities and Farm Land because the dollar was so great.
Things we can't not import are going to get much cheaper as other fiats, that depend on frivolous imports subsidizing them, fall off the cliff.
threaten violence
Tariffs, otherwise natsec scale economic freedom of association, are violence now?
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USA cannot last 6 months without Chinese supply chains.
Monetary hegemony is built upon trade and military dominance.
USA may still have a nominal military advantage(when did it last win a war???) but USA has lost the trade war- and China won it.
mBridge is looming over the petrodollars legacy hegemony.
The Saudis have signed up to mBridge and BRICS.
People do not trust the US any longer...certainly not BRICS nations who now have an alternative to the USD/SWIFT hegemony.
USA needs to roll over $8T USTs debt before Christmas- good luck with that.
Trump cannot end the war in Ukraine- Putin is laughing in his face.
Xi is rejecting Trumps tariffs bluff because he knows USA cannot last 6 months without Chinese supply chains.
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Ok
Trump went to Wharton, but is not an economist by any stretch.
I am an economist and trade theory was specifically one of my fields. There are definitely better options for advisor than me, but he could (and typically does) do worse.
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I spit out my drink when I saw “Trump is an economist”
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Cope.
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In that case, I'm also a physicist and mathematician (I'm neither and Trump's not an economist).
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He's at the head of the global economy, "trained" as you say. You're nobody, yet say it's he that knows nothing about economics.
Cope.
Can’t tell if you’re trolling or being serious.
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That's what I thought, you got nothing.
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That's not what "appeal to authority" means. Nowhere am I saying that I'm right because of my credentials.
Justin said that Trump should be listened to on trade because he's a Wharton trained economist. I'm pointing out that unlike Trump, I actually am trained in trade economics.
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Don't put words in my mouth, I was just pointing out how retarded it sounds when you regurgitate MSM narrative without basis... He simply has more insight into economics given his trajectory than you ever could.
Now your "training" is authoritative...
Trump has a bachelors in Economics, so you're training means shit if his does.
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I'm happy to be proven wrong, btw.
@remindme in 4 years
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