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Message
re: Kim Dotcom: US has to rule world because without reserve currency status they’re bankrupt
Posted on 10/14/22 at 3:11 pm to Indefatigable
Posted on 10/14/22 at 3:11 pm to Indefatigable
(no message)
This post was edited on 10/15/22 at 10:07 pm
3
Posted on 10/14/22 at 3:13 pm to RazorbackLaw501
quote:
The idea that human beings are interchangeable cogs in an economic machine is ignorant.
Diversity is definitely stronger than xenophobic, borderline racist, policies, in this situation.
Posted on 10/14/22 at 3:14 pm to SlowFlowPro
(no message)
This post was edited on 10/15/22 at 10:09 pm
Posted on 10/14/22 at 3:15 pm to RazorbackLaw501
quote:
Western nations don't have the cultural or political capability of bringing in tons of immigrants without fricking up their countries--maybe even irrevocably. Diversity is only a strength in so far is that it helps prevent other elites from forming supermajorities to replace the liberal elites (and their system) of present. The idea that human beings are interchangeable cogs in an economic machine is ignorant.
None of that has anything to do with the point of my post or the subject of this thread.
Posted on 10/14/22 at 3:16 pm to Indefatigable
(no message)
This post was edited on 10/15/22 at 10:07 pm
Posted on 10/14/22 at 3:20 pm to Indefatigable
quote:
Japan is in a similar predicament, though to a much smaller extent.
Russia as well.
Posted on 10/14/22 at 3:20 pm to RazorbackLaw501
quote:
Western nations don't have the cultural or political capability of bringing in tons of immigrants without fricking up their countries--maybe even irrevocably.
Right, and no one is saying that. The point was simply that China is unequivocally and totally incapable of supplementing their population via immigration in order to up their birth rate like the Western nations have done for a long time now. We were discussing demographic issues in China. None of the diversity bullshite you chose to read into it.
quote:
Diversity is only a strength in so far is that it helps prevent other elites from forming supermajorities to replace the liberal elites (and their system) of present. The idea that human beings are interchangeable cogs in an economic machine is ignorant.
Totally and completely irrelevant.
Where was I wrong? Your "correction" addresses something that no one in the thread stated or discussed.
This post was edited on 10/14/22 at 3:25 pm
Posted on 10/14/22 at 3:28 pm to Indefatigable
(no message)
This post was edited on 10/15/22 at 10:07 pm
Posted on 10/14/22 at 3:36 pm to aubie101
quote:The Triffin Dilemma speaks to this. There are advantages and disadvantages for holding a national currency as the reserve. e.g., One advantage .... we would be less able, and less likely to run trade and budgetary deficits.
Well there is some truth in that. We need to maintain the reserve currency, otherwise the US could be in a bit of trouble.
Posted on 10/14/22 at 3:36 pm to RazorbackLaw501
quote:
Yeah, that's wrong, and that's what I was referring to. You don't just "bring in" disparate people and create a stable country; furthermore, China probably could reverse their policy and be fine. The U.S. correctly understands this (indeed, they're starting to refer to China as a superpower) and is starting to act accordingly. Chinese Power in the Near Future quote:Totally and completely irrelevant. No, it's very relevant. Homogeneity via race, religion, etc. is a strength politically, culturally, etc. You can better mobilize and manage a population that isn't fragmented which is what is happening to Western countries that share a liberal world view.
Good god dude. None of that has any bearing whatsoever on my point. Go away.
No one is talking about stability or anything else. Want me to remove the throwaway “they can’t add immigrants to address the problem” from the post so that you can shut up about it?
This post was edited on 10/14/22 at 3:38 pm
Posted on 10/14/22 at 3:39 pm to Indefatigable
(no message)
This post was edited on 1/12/23 at 11:24 pm
Posted on 10/14/22 at 3:43 pm to RazorbackLaw501
quote:
Yes, it does, but you're jus clearly too stupid to understand it.
Completely nonsensical.
1. China has an irreversible demographic time bomb on their hands.
2. They are far below replacement rate, and they have no way to bring it up in a way that will address the issue.
3. These factors will cause their population to begin to shrink within the next 10-15 years.
4. That will wreck havoc on their economy, which requires robust and continuous growth to avoid collapse.
The above 4 points are the only things I am talking about in this thread, and nothing you have posted about in this thread are relevant to the above. For whatever reason, you saw the immigration line and have gone on some screed about how immigration wouldn't provide stability or whatever other irrelevant crap you posted.
Posted on 10/14/22 at 3:53 pm to Indefatigable
(no message)
This post was edited on 10/15/22 at 10:08 pm
Posted on 10/14/22 at 3:57 pm to Indefatigable
(no message)
This post was edited on 10/15/22 at 10:08 pm
Posted on 10/14/22 at 3:58 pm to aubie101
There is no world reserve currency and hasn't been since the mid '70s when we went off the metal valuation system we inherited from Britain.
People just say that because, in times of distress, investors flee back into the dollar because it is as safe as it gets (which is ironic since half the time we caused the crisis in the first place but whatever).
In reality, approximately 60% of global transactions trade through the dollar, with the rest trading through mostly regional currency baskets.
If we are ever held to account for our debt load there's going to be a problem ....
People just say that because, in times of distress, investors flee back into the dollar because it is as safe as it gets (which is ironic since half the time we caused the crisis in the first place but whatever).
In reality, approximately 60% of global transactions trade through the dollar, with the rest trading through mostly regional currency baskets.
If we are ever held to account for our debt load there's going to be a problem ....
Posted on 10/14/22 at 4:01 pm to aubie101
quote:
Well there is some truth in that. We need to maintain the reserve currency, otherwise the US could be in a bit of trouble.
Then we probably shouldn't have given control of the currency to a bunch of elitist bankers with no oversight and the ability to print an endless stream of money to solve any inconvenience. Because we did this to ourselves. The Reserve Currency cycle has about run out on the Dollar just like it did the pound, and every other reserve currency there's ever been.
The answer to this problem will eventually rise on it's own if there's anyone left in the ashes after it's over. And that's Bitcoin. Take all money generation away from governments. All of them. Unless of course the internet goes away and then the currency will be bullets.
Posted on 10/14/22 at 4:06 pm to RazorbackLaw501
quote:
It's not "irreversible". They can, and probably will, turn their demographic issues around by subsidizing their population to breed--they have 1.4 billion people, do the math. People in elite positions in the U.S. clearly don't think that China will have the economic issues that you're claiming because of population decline, okay? They have a vested interest here, and they think China can compete with the U.S.
There's a huge gap hitting now which could upend Chinese society...the problem isn't just a massive baby-bust but also the lack of women. They can't fix the issue now...maybe in a generation.
quote:
That's wrong and stupid.
You're assuming that the multitude of immigrants from various background are going to be an economic positive. You're not thinking about the cultural issues of different races, religions, and creeds "living under one roof" as it were. You're just ignoring that criticism. That's a huge issue that China won't face. It's really simple.
No they won't face that issue, but they are likely to face chaos brought about by a possible economic cataclysm related to the one-child policy and their xenophobia.
This post was edited on 10/14/22 at 4:07 pm
Posted on 10/14/22 at 4:09 pm to RazorbackLaw501
quote:
You're assuming that the multitude of immigrants from various background are going to be an economic positive. You're not thinking about the cultural issues of different races, religions, and creeds "living under one roof" as it were. You're just ignoring that criticism. That's a huge issue that China won't face. It's really simple.
No I'm not making any of those assumptions. It is really simple. The immigration comment was flippant and totally unnecessary for, and ancillary to, my point.
I've told you that multiple times, and you keep on preaching about it.
I don't care about the impact of immigration on national stability or anything else. You win. Just please shut up about it.
quote:
It's not "irreversible". They can, and probably will, turn their demographic issues around by subsidizing their population to breed--they have 1.4 billion people, do the math
No piece of available evidence suggests to be the case. In fact, it indicates the opposite. They are failing massively to increase the birthrate as it is. And besides, their problem would not be solved even if 250,000,000 newborns magically showed up right now. They have massive population issues throughout the age pyramid already, as well as a huge lack of women. Those magically appearing newborn children will not be ready to enter the productive economy by the time their enormous population of upper-middle to retirement age population dies off. It is too late to avoid a contracting population, or the resulting slowing of economic growth.
Best case scenario it will take them decades to generations to correct the current trend.
This post was edited on 10/14/22 at 4:13 pm
Posted on 10/14/22 at 4:14 pm to Indefatigable
quote:
They are failing massively to increase the birthrate as it is.
They're experiencing one of the by-products of industrialization, urbanization and a wealthier citizenry...low birthrates...which is exacerbating the one-child policy disaster.
Posted on 10/14/22 at 4:14 pm to cwill
quote:
There's a huge gap hitting now which could upend Chinese society...the problem isn't just a massive baby-bust but also the lack of women. They can't fix the issue now...maybe in a generation.
That's probably right, but my point is that it can be turned around, and U.S. elites (probably correctly) think that it will in the future.
quote:
No they won't face that issue, but they are likely to face chaos brought about by a possible economic cataclysm related to the one-child policy and their xenophobia.
Both U.S. elites and I seriously doubt that. And just to be clear, I'm sure some scholars may agree with you, but the NYT is a pretty good gauge of elite opinion, and that's why I linked that article. I think that's what they think and plan to do.
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