Interests: Linux, Economics, Politics, & Religion.

  • 3 Posts
  • 11 Comments
Joined 9 months ago
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Cake day: October 14th, 2024

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  • As a Catholic and as a moderator of https://lemmy.sdf.org/c/Catholic, I think this is a good move by the bishops. The Catholic Church is not defined by modern political divisions. We have priests walking with immigrants to court to discourage ICE from kidnapping immigrants, we have prayer groups outside most abortion clinics, we have protestors at every execution (capital punishment), we are told by our bishops to care for the poor, both personally and through the government we elect, and we are told that the right to life is a fundamental issue. We oppose the legal recognition of same-gender marriage and the acceptance of gender as a self-imposed construct. My bishop has helped promote legislation targeting payday lenders and other usurers while also doing the same in opposition to assisted suicide. We are a mixed bag. We are on both sides of the aisle. And both parties really want to gain our vote. If we self-declare an allegiance to either party, that harms our position. We risk becoming like the partisans on both sides who, as we often see, change their views to fit what’s convenient for the political party.




  • am looking for missed interest payments in the immediate future

    US debt is in US dollars and the US can print as many as they like. Not making an interest payment would be a political decision, not an economic decision, and has nothing to do with the level of debt or rate of interest. All historic cases of hyperinflation involved countries whose debt was denominated in a foreign currency. The US will have inflation but it will not have hyperinflation.

    Also, there will be no “BRICs currency” as they have nothing in common aside from a vague sense of alienation from the US-built world economic system. Infighting will break apart anything they try before it gets off the ground. These countries are more suspicious of each other than they are of the United States. As such, they have brief periods of limited cooperation followed by nothing or something worse than nothing.





  • The US has manageable problems. Russia & China do not. They have unmanageable problems. Russia and China both have population free-falls and a rapidly aging population. China’s economy hasn’t grown for the past three years. And that’s with their official statistics, so it is likely much worse. Xi’s political leadership is in limbo with internal factions alienating him from his own leadership. Way too much of China’s “wealth” is tied-up in real estate because they failed to grow other means of investing and saving. As that collapses with the population, real poverty will set in and the people will realize that their government failed them. This plus Xi’s drive toward war and his poor economic performance the past few years are why he is on the outs, leader in name only. Russia is getting their ass kicked by a nation 1/10 their size, gaining only a few acres per day at the cost of over a million casualties.

    Yes, if I had to choose, I’d pick the US well above China or Russia. So do most people. Which is why nobody is immigrating to China and very few to Russia. Despite the problems America suffers, it is still the land of opportunity, unlike Russia and China.


  • These new buyers are in BRICS, and their demand is increasing because these are growing economies where the standard of living is rising.

    In the past 10 years…

    • US GDP up by 67%.
    • Brazil GDP up by 9%.
    • Russia GDP up by 20%. Most of that is non-useful military spending to murder their neighbors.
    • India GDP up by 77%.

    Only India beats US GDP growth and that’s because US-based businesses are moving some of their production away from China and to India.

    Making more money has to be weighed against creating more risk for yourself

    The risk is on the buyer. That’s US businesses buying from China. US businesses pay, then China ships. What happens at the ports with tariffs is the problem of US businesses. China is going to keep selling so long as orders are coming in.

    Trump is a product of the existing material conditions in the US

    Voters report voting for him as a reaction against inflation. Inflation was caused by a reaction to Covid. The material condition has changed and the appetite for someone like Trump has waned as a result. That’s why his popularity is so low.


  • Once Chinese companies find new buyers, what reason do they have to go back to trading with the US

    To make more money. The bigger your market, the more customers you have, the more money you can make. Also, these “new buyers,” where have they been? Why was China holding out? That makes no sense at all.

    the US will be seen as being an inherently risky business

    Trump is seen as inherently risky. He has just a short few years remaining. A president like him comes only rarely.