It’s hard to say if the president truly knows what he’s doing. But there is a precedent for the US causing short-term chaos and reaping long-term gain, says economist James Meadway
Stephen Miran is chair of the Council of Economic Advisers, and Scott Bessent is treasury secretary.
The reason the Americans are starting a trade war is to use their position as debtor and buyer/importer to re-negotiate the world trade deal on more preferential terms.
The Nixon Shock and Volcker Shock set up a world order where they offshored manufacturing and remained in control anyway by monetary means. The ‘Bessant-Miran Shock’ is trying to create a weaker dollar (in other words, less import-focused economy) so that their country gets the benefits of manufacturing as well as of currency control.
The ‘Bessant-Miran Shock’ is trying to create a weaker dollar (in other words, less import-focused economy) so that their country gets the benefits of manufacturing as well as of currency control.
Let’s try an experiment. What was the wording I used when I explained this concept recently? What was my criticism of connecting this particular economic framework to current world events in the real world?
The point that I am making is that it feels like you’re not bothering to read anything I am writing, and just repeating over and over again that this is a coherent plan by some particular people (which, sure it is) and explaining how the plan works.
I do understand how the currency devaluation plan works. I actually led off quite a while ago by explaining it, more or less the same way you had. I’m wondering if you know what my explanation was, and what my main criticisms were of applying that theory to the current world situation. I feel like you don’t, and this is one of those conversations where you just repeat your side over and over again until the other person gives up and goes away.
So tell me: What are my main criticisms? In your own words? I don’t want to give you a link to the exact comment, I feel like that would take away the opportunity for enrichment by finding them and reading them and going through the exercise of stating what it is that you think they say.
explaining it, more or less the same way you had. I’m wondering if you know what my explanation was, and what my main criticisms were of applying that theory to the current world situation.
There’s the cheat sheet, my criticism of the theory in the first place, and then my separate criticism of its success level when being placed in Trump’s hands to execute.
So summarize for me: What is my main argument in both fronts?
summarize for me: What is my main argument in both fronts?
Yes boss! Lol
Defaulting on treasury bills is bad
lack of domestic manufacturing capacity
“the history of where global capital chooses to site factories argues strongly against them moving them back to the US even with a cheaper dollar.” – I don’t know if that counts as a separate point, it’s a bit vague for me
You could also mention accelerated de-dollarisation, a recession shrinking purchasing power, and the danger that the ruling clique will lose political power/backing halfway through the plan.
You keep focusing on one random guy.
Stephen Miran is chair of the Council of Economic Advisers, and Scott Bessent is treasury secretary.
The reason the Americans are starting a trade war is to use their position as debtor and buyer/importer to re-negotiate the world trade deal on more preferential terms.
The Nixon Shock and Volcker Shock set up a world order where they offshored manufacturing and remained in control anyway by monetary means. The ‘Bessant-Miran Shock’ is trying to create a weaker dollar (in other words, less import-focused economy) so that their country gets the benefits of manufacturing as well as of currency control.
Let’s try an experiment. What was the wording I used when I explained this concept recently? What was my criticism of connecting this particular economic framework to current world events in the real world?
Link?
https://ponder.cat/u/PhilipTheBucket
You will have to read down to the second comment to find it. Well, third comment now.
https://ponder.cat/post/2310062/2618268 ?
The point that I am making is that it feels like you’re not bothering to read anything I am writing, and just repeating over and over again that this is a coherent plan by some particular people (which, sure it is) and explaining how the plan works.
I do understand how the currency devaluation plan works. I actually led off quite a while ago by explaining it, more or less the same way you had. I’m wondering if you know what my explanation was, and what my main criticisms were of applying that theory to the current world situation. I feel like you don’t, and this is one of those conversations where you just repeat your side over and over again until the other person gives up and goes away.
So tell me: What are my main criticisms? In your own words? I don’t want to give you a link to the exact comment, I feel like that would take away the opportunity for enrichment by finding them and reading them and going through the exercise of stating what it is that you think they say.
Please link to them so I can know
lol sure
https://ponder.cat/post/2310045/2616899
https://ponder.cat/post/2310062/2618197
There’s the cheat sheet, my criticism of the theory in the first place, and then my separate criticism of its success level when being placed in Trump’s hands to execute.
So summarize for me: What is my main argument in both fronts?
Yes boss! Lol
Defaulting on treasury bills is bad
lack of domestic manufacturing capacity
“the history of where global capital chooses to site factories argues strongly against them moving them back to the US even with a cheaper dollar.” – I don’t know if that counts as a separate point, it’s a bit vague for me
You could also mention accelerated de-dollarisation, a recession shrinking purchasing power, and the danger that the ruling clique will lose political power/backing halfway through the plan.