Freedom, I’ve no doubt that most of the world will suffer (additionally) when/if the US economy goes belly-up, (including us) especially any nation that makes a significant portion of its national income selling consumer goods to the USA. But I disagree that our wasteful conspicuous consumption is what makes us any sort of powerhouse. It makes us look like fools, easily parted from our moneyǂ, and it has dawned on most of the productive nations that much of our consumption, especially the blatantly wasteful part, is largely possible because “our” government has been able to get their governments to compel them to choke down increasingly worthless “dollars,” ginned up out of thin air and electrons. Only the equal chicanery of their own central banks to engage in the same kind of bogus currency “creation” keeps the Federal Reserve “Dollar” temporarily looking good by comparison.
We tend to think of the US government, relative to the rest of the world, as the kind of ordinary people we encounter everyday — a mixture of saints and sinners, to be sure, but generally, decent folk, and we expect that our government represents our values to the world, unlike the few foreign heads of state, most of whom we regard as scarcely better than horned devils, and therefore, representative of the kind of people in those nations. USA GOOD! Everyone Else BAA-AD! I think we’ve been sold more than a few bills of goods.
If the USA dropped off the financial grid tomorrow, the rest of the world would muddle through (maybe better than we might initially suppose, because they wouldn’t have the machinations of the Fed, and the fedgov to defend against.) The last time a nation was able to spend its currency at such advantage in its “area of influence,” was the few years when Nazi tourists were able to buy luxuries, finery and art works with Reichsmarks at rigged exchange rates from the destitute people in conquered lands. It didn’t last, and this won’t either. The BRICS nations are doing as much as they can to escape this scam with a whole skin. And if you are prepping for anything more serious than a good time on your next vacation, so are you, whether you realize it or not.
ǂThe last (and only) time I bought clothing for a one-time use, I got it at a thrift shop that undersells Goodwill.
- This reply was modified 4 years, 12 months ago by L Tecolote.