I wouldn't say it's cheating. The guy is without a doubt fiscally conservative but holds some social liberal values.
shawn1122
joined 4 months ago
This comment actually perfectly encapsulates how the US has got to the point that it's at today.
He must be losing some supporters. Indecisive is not a good look for a leader at any level.
China controls 90% of global production and refining capacity of rare earth minerals. They started investing in the 1980s.
This was going to be tough for the US even with allies by their side.
The nightmare scenario is China cuts the US off completely and the US responds with some form of military action.
China was smart by creating their own versions of all the services the US offers.
The only reason the US is the nation that holds the most purchasing power in the world (20% of global purchasing power) is because it's a net exporter of services and much of the world respects its intellectual property.
The minute people start wiping their asses with US IP, it's game over.
Why can't there be a EU/Canadian/South American etc version of Uber, Netflix, YouTube, App stores, Visa etc? Even if the world moves away from their services just on the basis of principle, it will have an enormous impact.
USA turning itself into Cuba.
It takes a next level pants on head stupid to do this to yourself unprompted.
Americans don't just buy Chinese products from Shein and Temu. They buy those products from Walmart, Target, Amazon and essentially every major US retailer.
The US is speedrunning ending their empire on the current trajectory. The world needs to call their bluff to put them in their place.
How about decorum minus gun etiquette.
Not just American citizens. The people he grew up with. His own community. He even wrote a book to exploit it. The guy is all sleaze.
Was the US. That mistake is being rectified.
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Bonds offer fixed interest.
Let's say a $50 bond offers $5 dollar yield at maturity (10%).
If those that currently own bonds sell en masse, the bond becomes less valuable (let's say $40) but the yield is still $5.
Now the interest rate is 5/40 = 12.5%.
The 30 year treasury bond interest rate is closely tied to mortgage rates.
A higher bond interest rate makes it more expensive for businesses to borrow money.
If other countries sell off US bonds (which are purchased in US dollars), they flood the market with US dollars which ultimately diminishes the dollars value.
Trump and his ilk like to act like the US subsidizes many of its allies when that is very clearly an oversimplification. Many of the US's allies own US debt (in the form of bonds) because the US is an extremely reliable borrower. If those countries decided the US is not reliable enough to lend money to anymore, it would be extremely problematic for the American economy.
Tl; Dr: Canada, Japan and the EU could twist American home buyers and businesses by the balls by selling off bonds and, if they took it far enough, even devalue the US dollar. America spends a shit ton of borrowed money from its allies and even China.