America's Greenland

@whowasthatmaskedman not since the 19th century when that was the worldwide standard

@Djc59 So America has changed?? For the better?? (Please show your calculations)😷

@whowasthatmaskedman on that issue, and others, Absolutely. But if you know anything about America, you already know that.

@Djc59 I suppose it depends what you use as a starting point. You still have poor people waiting on the southern border who see America as a dream of opportunity and possibilty. And compared to Venezuela and Columbia maybe it is.. However, if you start with a country with minimal gun violence, a fair legal system, Universal health cover and an education system open to all, then..Not so much...😷

@whowasthatmaskedman I understand your point and you are correct. However, my way of seeing it is that those things are services (even if they are rights), and services have to be paid for. The same society where the government overspends on that - is not only plagued with financial problems, but usually it depresses innovation and business. Exhibit A - Europe.

@Djc59 Opening point: Its good to have a rational discussion with actual points on both side. We may not agree. But I can respect your viewpoint.
And yes. All those services are paid for..With taxes.. The balancing factor is that legal and regulatory oversight is built into the system that stop $40 aspirin and $100 insulin shots. Or limiting access to education, based on ones donations or family connections. I will be brief on this, but there are certain services and things like Infrastructure that cannot be efficiently provided by private enterprise, because the profit motive is on too long a timeline or uncertain. We know that keeping a person healthy saves money for everyone by reducing the chronic use of the health care system. We can only guess how many Einsteins never got off the ground because they couldnt hope to go to college. (Side point. There is a College championship football game on in the US coming up.. The Punters on BOTH teams are Australians.. Fun fact..)
So in my world, where the aim is for the largest number of people to get the greatest benefit, short term profit often stifles the best result.. China has in fact a parallel system of Capitalism and State run enterprises.. And the results say it is working for them economically. However, to see that, we have to separate the politics, from the economics..😷

@whowasthatmaskedman Well put! Except I differ on your point about China why would you say is true it’s only short term success I think in the long run it’s gonna fall apart and it already has started to. You should check out Peter Zeihan on YouTube. He discusses geopolitics, and I like his set of assessments.

@Djc59 I didnt claim China was perfect. Everything rises and falls over time. Its just that China has solved the application of Keynsian economics, regarding providing everything the society needs to flourish for the longer term.. The problem with economics is always going to be people. They cant resist putting their finger on the scale to get a little more. That holds true for corruption. Or for trying to create more employment than society can provide. Now Keynes says its ok to go that extra yard for the common good. As long as you remember to pay the money you magicked into being back later. I guess you can see where I think the US went wrong here. And maybe China will too. But as long as they are manufacturing for the world and have trade surpluses with everyone, it doesnt matter so much..
In short, China is on the rise as America is diminishing. Sometime in the future the Chinese economy will mature, and then maybe the African continent will be next and China wont like it.. By then America will be something like France, or maybe Britain..😷

@whowasthatmaskedman I'm not that pessimistic. I do remember that prediction being popular about 20 years ago - but at this point, with the crashing Chinese population, the overcounting on housing, and the stalling growth, I don't think they'll ever surpass the US (and in fact will start to slip). Most recent estimates say that starts in the 30s, and they'll be much diminished in the 50s.
But we do have to find a way to deter a war this decade... or not lose it.

@Djc59 We can certainly agree on that last point, while waiting to see what happens on the rest. My preference is to follow the money..As I see it, the only reason America still has any is because they keep printing it, without any adding of value to the economy to back it up. But like i said. We will see. If I am right, real employment will start to drop as soon as the interest rates are cut and inflation kicks in..If the Fed doesnt lift rates and deepen the recession that is either happening or about to happen, then hyperflation is really possible.. And thats all because other countries are selling down their T Bonds,, People dont want the $US like they did. There are a couple of really nasty side effects from that, which are outside the scope of this for now...😷