You have a Greater chance of getting hit by lightning 100 times every day of your life and surviving
[media=https://youtu.be/uT5HqeqEQUA]
THan the BRICS+ do of succeeding. Ever.
THan the BRICS+ do of succeeding. Ever.
whowasthatmaskedman · 70-79, M
You are framing the problem incorrectly. BRICS may indeed not be the winner in a one to one economic battle. But whatever the economic future, America is on an irrevocable course to being dethroned as the global economic leader. And the symptoms are already visible, in rising interest rates, leading to defalts, repossessions and bankruptcy, inflation, caused by the rising cost of imports, which is noe settling into food and energy pricing and lastly the slow response of wages for the average worker to keep up with these factors.
Of course, the administration may do something really stupid, to accelerate this process into some kind of armageddon collapse. But even if that doesnt happen, the international debt will slowly choke the economy as America has to find another way to pay its international bills or go without..😷
Of course, the administration may do something really stupid, to accelerate this process into some kind of armageddon collapse. But even if that doesnt happen, the international debt will slowly choke the economy as America has to find another way to pay its international bills or go without..😷
PDXNative1986 · 36-40, MVIP
@whowasthatmaskedman I believe those who think the US is going to inflate away it's debts are wrong, it's more likely it will default and issue a new currency so that it won't matter that the dollar collapses.
whowasthatmaskedman · 70-79, M
@PDXNative1986 OK. I accept that as an economic possibility. So I will respond sensibly. If you are correct, that will leave every nation America owes money to in the lurch. And the response (at the very least) will be that those nations will insist on a stable method of payment from then on. Possibly their own currency or another stable recognised trade currency , or maybe gold. A more agressive responce may be to seize US assets in the form of businesses or shipping, or aircraft landing in their territory. Or they may even attack US shipping on the high seas. (Dont laugh. Its what America did to Venezuela) The point being that just cancelling the $US and replacing in with the "Eagle" or something will create massive trade disruptions for a nation that imports far too much to be cut off like that.. But, on the up side of unintended consequences. Every war lord and drug cartel or organised criminal who has shipping containers filled with $US will suddenly be broke. So its not all bad news..😷