This is way too fatalistic.
Biden is growing the economy despite being the most anti-business admin in US history, a sharp rise in rates and fuel prices arguably 100% higher than they should be.
I missed this entire rally for the most part because of the above. It is an incredible feat-it also means that a return to Trump should result in insane growth.
It is growing, the Southeast is booming and the rest is largely going in order based on when the states re-opened from covid and right to work laws.
IMo the emergent threat to the dollar is a loss of institutional trust and not economic. They have no reasonable substitute. The dollar replaced the pound sterling as it was the obvious successor.
Lastly, diversity is our strength. One of the biggest problems is the top down uniform education system has created immense uniformity. Creativity, imagination and curiosity plus wealth lead to innovation which is applied intelligence. It is also what led to American exceptionalism. Uniformity, conformity in the case of some of Asia, tradition inhibit subsequent innovation. Folks cite the 50’s as super America. The adults of the 50’s came from diverse backgrounds, were taught very differently and brought differing visions and problem solving skills with them. Obv importing 20million illegals is not our strength but in general diversity is our strength.
You have a foundational understanding of things. There is much more to it.
Economy is growing? If you deduct the printed money then there is no historical growth in the American economy. This nation without QE has been in recession since 2008, with the exception of the Trump presidency.
American’s see and recognise the destruction of the dollar, but miss the rise of Brics with over half the world’s population using their own currencies free from the dollar if they choose. Gold has lost 40% of its purchasing power every 10-years but it is mined and the amount increases. If you put 1M USD in a safe 100 years from now it would purchase $997 USD using the past 20 years rate of inflation. If you put it in Gold you would have 50%. If you invested in the S&P500 you would break even. This is where the BTC ETF comes in. There is a financial instutution flight to ETFs for BTC, which is the only cryptocurrency with a cap - there is no other store of value in the world that humans can not get more.
Ukriane was for sale. Wealth was transferred from Ukraine to every nation in the guise of selling mineral rights, or farmland, the Black Sea ports and facilities, etc., to the Americans, British, French, etc. Ukraine had to sell out to Arm for a war against Russia (Ukraine had 1.1M trained military personnel, 800K active duty and Russia had 380k globally when they started the Special Operation or War).
Now NATO cannot defend those “investments” because of the greed that led the Western Intel Agencies and Governments to try to carve up Russia for their 1/7th of the World between themselves. As Blackrock and many other corporations are faced with their own collaspe because of their losses in Ukraine, Biden Admin approved the Bitcoin ETFs - these ETFs are allowing the hugh increase in the value of their dollars converted into the store of wealth in BTC restore the losses on their balance sheets by the rise. Now that BTC is here as an asset, it will not decrease in value once it all held as investment. These ETFs paid 40k, then 36k, then 70k, and it is going up and down now, but the dollars going into BTC will only increase. Blackrock needs BTC when it losses its investments in Ukraine. England needs BTC when they lose the Black Sea access in Ukraine - the great Obama/Biden gamble lost when trying to topple Russia. War is winner take all.
The economy is winner take all too. Just as in War, only the top company’s win. The US prints one Trillion USD every 92 days and we are in a technical recession. The Federal Reserve is supposed to grow the money supply through economic activity - this nation is not growing the money supply thru economic activity and thru bank loans. Simply printing money, adding people, in the Southwest isn’t doing anything except lowering the standard of living with US Fiat.
The entire West is going to have a hard time going forward. Because of Brics, Europe is going to see a hugh cut in the profits from Africa - without financial exploitation of Africa by individual European nations, their Socialism cannot pay for itself and the house of cards will collaspe.
We are getting close to the death of the USD which will be replaced by a Regional Basket Currency called the American Dollar used form Canada to Argentina and the kicker is that it will Trump who gets Americans behind a dollar that will allow Americans to flee the USA and live anywhere in North or South America they choose and use the same dollar everywhere, but raise their standard of living and thru this scheme raise the fortunes of everyone currently not living in the US.
The diversity of you speak has nothing with the imposition of the perversity, the lawless imposition of illegal immigrants, and your grasp of why the 1950s were the high tide of Western Civilization and the US middle class. That diversity in the 1950s was only possible becasue America came out of WWII with Christian values and as saviors of the Jews, among others in Europe from “the war between Marxists (Facists, Communists) from which Socialism was sired.
Good points.
Sell Ukraine, buy BTC.
Sell America, seek peaceful existance elsewhere.
American and the West have been systematically destroyed by greed and Global World Economic Planning requiring forced population reductions. Communist sucks. Even if the world goes to a million people, unless you get rid of the all the people who cannot or will not give 100% to the state, there will never be enough. They will eventually kill the old, kill the disabled, kill the dissenters.