Me 6 months ago: "Well at least inflation isn't as bad as it was in the Weimar Republic...." Me now: "uh oh"
this post was submitted on 30 Nov 2024
284 points (97.3% liked)
News
23452 readers
4952 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 2 years ago
MODERATORS
The bizarre Republican project of burning America to the ground, because they love it so gosh darn much, continues apace.
For those with enough wealth, it's a win-win. Either the dollar stays strong and you continue to trade assets/stocks/bonds accordingly, or it craters and you invest in cost-competitive labor on par with India and China.
In the latter case, while foreign goods are priced out of reach, a booming manufacturing sector will come in and "save the day" in states with poor worker protections/rights. The real magic trick is making sure you (the 1%) are in the room when the decisions are made to hold or fold before the general public knows anything about it.
They falsely assume everyone else loves and covets it as much as they do.
load more comments
(1 replies)
If a trading bloc abandons the USD, that means they are less interested in trading with the US. Slapping a tariff in them means that they will be even less interested.
If a trading bloc abandons the USD, that means they are less interested in trading with the US.
Not really. It could mean that they just want a just and fair trading system not ruled by a monopoly on green paper with slavers on it.
Are you seriously saying that the capitalists from BRICS countries are interested in justice, fairness, and cancelling slave owners as opposed to their own economic self interest while jostling for position with western capitalists about who should be higher in the pecking order of exploiting the global working class? Because if you're serious about that, I would love to trade you some magic beans for your cow.
Can you even imagine how happy putin is with his bitch?
I am starting to think about that Trump just learned what a tariff is during this election cycle. Still has no idea how they work, what their purpose is, when they should be used, nor how they impact local and global economies but, gosh darn it, if he isn't excited to show off his new knowledge.
Maybe if they have him write out the word "TARRIF" on a piece of paper and put that paper on the white house fridge, he can be proud of it everyday and be able to move on to his next vocabulary word.
Remember, when he uses the "nobody knew this" that actually means he didn't know it. And he says it a lot.
Because in his mind
He is the only person with any value
Everyone else is a lamb to the slaughter unless he finds them useful.
load more comments
(4 replies)
Relearned, maybe?
He was also really big on putting tariffs on everything out of China in the 2016 election cycle.
Check out from 9:50, Trump has been talking about tariffs since the 80's
So trump is going to start a trade war with the entire world now?
What is the next word after "great" when talking about economic depressions?
Trumpian
Stupendous, I believe
Depression bigly
Epic, grand, massive, fucked ?
load more comments
(11 replies)
It's like he's trying to kill the US dollar. Nobody who was actually trying to protect our currency would be making these moves.
It's not a shocker why all the cryptobros are behind him either, because that's their goal, too.
But I mean god damn it is really hard to exaggerate how stupid and easily manipulated Trump is.
Crypto Bros like him because they don't want to have to pay taxes or to stop scamming people
No "like", he is. Russia and China want to devalue the dollar and replace it as the world currency.
Obviously Russia is unlikely to achieve that, but I'm sure China encourages the use of RMB in their global operations, like in their belt and road projects.
Russia benefits from a stronger US dollar insofar as its oil and gas exports are settled in that currency. The more valuable the US dollar is (as measured against the ruble), the more rubles Russia's exports end up yielding — or the better they compete with other producers in international markets.
load more comments
(1 replies)
load more comments
(5 replies)
Why do I get the feeling Trump doesn't know that tariffs can go higher than 100%? Nobody tell him.
I think in his head, 100% tariffs mean that other countries give the USA goods for free, or something like that.
No he's thrown 2000% tariffs around at least once in the last few months. Fortunately for all involved he seems to have stopped doing that and switched to something a tiny bit less stupid.
load more comments
(1 replies)
I've said it before and I'll say it again: the world needs a neutral reserve currency, not one issued and controlled by whatever country happens to be the dominant superpower.
I feel like this doesn't solve much of the things you think it would.
Also, capitalists will never agree to this. They like having their own currencies cause they can manipulate them.
load more comments
(1 replies)
load more comments
(46 replies)
Guys don't you see how much the economy will grow?
If it drops 50% it will be a 100% growth once it's back where it was. That's like stable genius!
/s
This either means the US economy will suffer .... or America will fight back violently to force others to follow their rules
Either way, someone, or everyone is going to suffer
load more comments
(1 replies)
I don’t think the BRICS are interested in giving up on the dollar. Two of those countries have some of the biggest dollar reserves there are outside of the US.
I think they’re more interested in bilateral trades/payments using their own currencies.
They absolutely are - the non-American aligned countries are afraid sanctions would prevent their ability to trade at all and want a better medium for exchanging goods. Everyone has seen the damage sanctions caused to Russia and are afraid of what might happen to themselves.
view more: next ›