It's an interesting point you've made Michelle but I'm not sure the scope of the problem and the trigger to it's re-adjustment lies in US domestic politics. As you say, 'globalism' - that is where the reset will occur imho. The USA, even in it's lower socio-economic strata, enjoys fairly robust and tolerable standards of living (societal…
It's an interesting point you've made Michelle but I'm not sure the scope of the problem and the trigger to it's re-adjustment lies in US domestic politics. As you say, 'globalism' - that is where the reset will occur imho. The USA, even in it's lower socio-economic strata, enjoys fairly robust and tolerable standards of living (societal issues notwithstanding) bouyed by something that gets very little mainstream coverage - the global reserve currency is predominantly the US dollar but increasingly less so.
In recent years that is eroding (US santions actually are supercharging this decline) and I'm not an economist so I can't tell you what is the tipping point but the 'run on the banks' that's be experienced domestically in the past from economic shocks will be nothing compared to the 'run on the central bank' as the world switches off to US dollars. Money won't benefit from shifting from deposits to bonds, stocks or cash, all of them won't be worth holding domestically - unless they're from somewhere else.
Then you get your socio-economic reset albeit inhospitably, turning the tolerable into the intolerable for the vast majority of the domestic population in a society with a lot of firearms domestically and a penchant for bombs internationally. The rest of the world isn't likely to come running to the rescue. Even the 'close allies' and 'special friends' etc will drag their feet on any assistance as it will be in their interest to do so.
My point being that I'm not sure that US policy can rein in the global scourge you refer to.
Best keep an eye on global reserve currency ratios. A broke friend is a concern, a broke-ass desperate friend with a gun is a problem.
It's an interesting point you've made Michelle but I'm not sure the scope of the problem and the trigger to it's re-adjustment lies in US domestic politics. As you say, 'globalism' - that is where the reset will occur imho. The USA, even in it's lower socio-economic strata, enjoys fairly robust and tolerable standards of living (societal issues notwithstanding) bouyed by something that gets very little mainstream coverage - the global reserve currency is predominantly the US dollar but increasingly less so.
In recent years that is eroding (US santions actually are supercharging this decline) and I'm not an economist so I can't tell you what is the tipping point but the 'run on the banks' that's be experienced domestically in the past from economic shocks will be nothing compared to the 'run on the central bank' as the world switches off to US dollars. Money won't benefit from shifting from deposits to bonds, stocks or cash, all of them won't be worth holding domestically - unless they're from somewhere else.
Then you get your socio-economic reset albeit inhospitably, turning the tolerable into the intolerable for the vast majority of the domestic population in a society with a lot of firearms domestically and a penchant for bombs internationally. The rest of the world isn't likely to come running to the rescue. Even the 'close allies' and 'special friends' etc will drag their feet on any assistance as it will be in their interest to do so.
My point being that I'm not sure that US policy can rein in the global scourge you refer to.
Best keep an eye on global reserve currency ratios. A broke friend is a concern, a broke-ass desperate friend with a gun is a problem.