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The potential collapse of the US dollar

Callen said:
Why wont they be good paying union jobs? If those industries were to return they would have to be low skilled non union workers in order to keep the prices at anything close to affordable. I read an article the other day that even if Apple were to assemble their iPhones in the US the cost given American labour rates would be several thousand...I think the number was $2500 but I don't recall exactly.
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They would have to be that price in order to maintain current margin. Key detail.


So, is that it for us? We just accept the reality of billionaires, and soon, trillionaires? Not because of the value they create, but because of the increasing amount of value they deny those who actually create the goods and services?
 
KevinKohler said:
So, is that it for us? We just accept the reality of billionaires, and soon, trillionaires? Not because of the value they create, but because of the increasing amount of value they deny those who actually create the goods and services?
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I would hope not and that is what I believe Biden was trying to accomplish in his first two years. Lots of great legislation passed to lift up the middle class.
 
Callen said:
I would hope not and that is what I believe Biden was trying to accomplish in his first two years. Lots of great legislation passed to lift up the middle class.
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the long term trend is to Eliminate most of the middle class; they tend to be harder to control and think toooo much.

.
 
Absentglare said:
We are seeing foreign investors pull away from Trump’s unstable economic destruction. The result is that they need to raise interest rates on treasury bonds in order to find investors in order to fund our government. Mortgage interest rates are already up to 7%.

Markets are losing confidence in the US dollar. The petrodollar has helped ensure that there is a steady demand for the US dollar.

We are losing the financial confidence of the international community. The result is very likely the impending collapse of the US dollar thanks to Trump.

We have the ability to consume excess shares of the worldwide economy, to deficit spend without suffering hyperinflation, and we do not understand or appreciate how good we have it.

So WHY is Trump destroying this system?



If US exports were more competitive, that wouldn’t help you, your income will not change, but it would help your boss. If US imports were more expensive, that would hurt you, it would cut directly into your purchasing power.

They want to use the ensuing financial chaos to eliminate the social safety net and turn the US into a shithole sweat shop. This is their plan to do it. Don’t be surprised to find out that America’s enemies in China and Russia have their fingers all over these plans.
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The dollar has been lower than this many times. Including during the entire Obama presidency.
 
Let's hope that the intentional ruining of our economy and destruction of our relationships with allies doesn't reach the level of the collapse of the dollar. Never vote Republican again.
 
Fletch said:
The dollar has been lower than this many times. Including during the entire Obama presidency.
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You’re right! Any clue who was in charge as it crashed??

IMG_1926.webp


Now, try to imagine how much more an economic disaster would hurt if someone had first intentionally destroyed the international US treasury bond market.
 
Absentglare said:
We are seeing foreign investors pull away from Trump’s unstable economic destruction. The result is that they need to raise interest rates on treasury bonds in order to find investors in order to fund our government. Mortgage interest rates are already up to 7%.

Markets are losing confidence in the US dollar. The petrodollar has helped ensure that there is a steady demand for the US dollar.

We are losing the financial confidence of the international community. The result is very likely the impending collapse of the US dollar thanks to Trump.

We have the ability to consume excess shares of the worldwide economy, to deficit spend without suffering hyperinflation, and we do not understand or appreciate how good we have it.

So WHY is Trump destroying this system?



If US exports were more competitive, that wouldn’t help you, your income will not change, but it would help your boss. If US imports were more expensive, that would hurt you, it would cut directly into your purchasing power.

They want to use the ensuing financial chaos to eliminate the social safety net and turn the US into a shithole sweat shop. This is their plan to do it. Don’t be surprised to find out that America’s enemies in China and Russia have their fingers all over these plans.
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One of the best summaries I have read so far. Strongly agree with what you said. I have tried to say the same thing but I am far too wordy. I prefer your precise sussinct analysis!
 
dmpi said:
There's nothing wrong with the US dollar other than we sold trillions of T-bills to China and now they're dumping them because they're desperate for those very 'despised' US dollars to prop up their own currency to keep it from going into free-fall.
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Its not just China selling T-bills. Trump has triggered a confidence issue.... US debt has lost its luster world wide. Trump played with buttons in the White House that he should not have played with.... this is what happens when a POTUS has no adults around him --- adults being capable people that are also capable of saying 'no'. So, we have children's day at the office.

If the bond market does not recover, with tender loving care, we could be headed for a worldwide depression.
 
Absentglare said:
We are seeing foreign investors pull away from Trump’s unstable economic destruction. The result is that they need to raise interest rates on treasury bonds in order to find investors in order to fund our government. Mortgage interest rates are already up to 7%.

Markets are losing confidence in the US dollar. The petrodollar has helped ensure that there is a steady demand for the US dollar.

We are losing the financial confidence of the international community. The result is very likely the impending collapse of the US dollar thanks to Trump.

We have the ability to consume excess shares of the worldwide economy, to deficit spend without suffering hyperinflation, and we do not understand or appreciate how good we have it.

So WHY is Trump destroying this system?



If US exports were more competitive, that wouldn’t help you, your income will not change, but it would help your boss. If US imports were more expensive, that would hurt you, it would cut directly into your purchasing power.

They want to use the ensuing financial chaos to eliminate the social safety net and turn the US into a shithole sweat shop. This is their plan to do it. Don’t be surprised to find out that America’s enemies in China and Russia have their fingers all over these plans.
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Yes and Trump likes this plan because authoritarians have a much easier time controlling the people when they are suffering and weak from hunger. They must fear the dear leader or he will fail. You saw this when Swami said this...

US culture breeds ‘laziness’ and ‘mediocrity’, says Vivek Ramaswamy as he backs migrant-hiring​

https://www.yahoo.com/news/us-culture-breeds-laziness-mediocrity-145021181.html
 
Absentglare said:
Is it news to you that some BRICS members want to supplant the global dominance of the US dollar?
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No, this is not news and it's not a secret, there are many plans, ranging from the BRICS single currency to national digital currencies...
However! Only an American resident with a brainwashed TV can consider this a manifestation of hostility.
The actions of the BRICS are a national right, no one is obliged to use the dollar, there are no such laws.
 
Absentglare said:
If US exports were more competitive, that wouldn’t help you, your income will not change, but it would help your boss. If US imports were more expensive, that would hurt you, it would cut directly into your purchasing power.

They want to use the ensuing financial chaos to eliminate the social safety net and turn the US into a shithole sweat shop. This is their plan to do it. Don’t be surprised to find out that America’s enemies in China and Russia have their fingers all over these plans.
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I don't know if it's really a plan. I don't describe things as backwards evil genius that can easily explained away as just sheer stupidity and incompetence. With that being said, I think what you describe in the bold is probably the only way I can see destroying our current globalized trade regime and replacing it with a new USA that is more into production even coming remotely close to working.

There are two paths that we could take to restore our manufacturing capacity. One path not only imposes trade terms that encourages more domestic investment in manufacturing and production but also creates a somewhat generous safety net for workers. The added benefit isn't just the dole itself but also the fact that companies would have to keep wages high in order to attract domestic labor to rejoin the workforce. Obviously, that's something that investors and executives aren't really interested in, which is why they invest in robotics and send jobs overseas.

The other path is what you described: taking away any kind of safety net for employees. They would also seek to take away:

* any form of collective bargaining
* overtime pay and the 40-hour work week (80 hours for peanuts, basically).
* no workplace safety rules
* total employer control over the employee's lives

That is what Making America Great Again would really look like: a West Virginia coal mine in the year 1915.
 
dmpi said:
Oh right... Japan doing the dumping. LOL. They just say 'Japan' because NOBODY want to say China is dumping or else their economy will go into total panic and meltdown. Trump wants a negotiated trade settlement, he doesn't want to destroy the Chinese economy because that will destroy ours too. Notice that Trump backed off when that happened, and then he made an effort to isolate China as the 'bad' free trading partner... as if the rest of the world didn't already know that. Bottom line is somebody needed to head to head against China trading practices and it might as well be now. The world world knows it, and they're behind Trump.
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Japan held more US debt than China and the UK, the three largest creditors.

usafacts.org

Which countries own the most US debt? | USAFacts

As of April 2024, foreign countries own approximately $7.9 trillion in Treasury securities — or 22.9% of total US debt.
usafacts.org usafacts.org
 
Absentglare said:
Don’t be surprised to find out that America’s enemies in China and Russia have their fingers all over these plans.
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I really don't understand the obsession with a foreign enemy. It's implying that the only way some one would make bad moves like these is that they are being controlled by a foreign opposition. Sometimes governments make bad moves because of hubris, assumptions, and generally not caring about the consequences. The move to dismantle the safety net isn't a foreign plot but rather has been a goal of the corporate elite for decades now since the collapse of the Soviet Union.
 
Mr. Invisible said:
I really don't understand the obsession with a foreign enemy. It's implying that the only way some one would make bad moves like these is that they are being controlled by a foreign opposition. Sometimes governments make bad moves because of hubris, assumptions, and generally not caring about the consequences. The move to dismantle the safety net isn't a foreign plot but rather has been a goal of the corporate elite for decades now since the collapse of the Soviet Union.
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Signs are Trump is for sale.
What keeps some of the customers from being foreign?

Also,
Trumpco has shown a proclivity to be needlessly negligent on security issues over and over and over again.
Foreign adversaries actively try to intercept communications.

If Trumpco continues to choose to make mistakes regularly, eventually foreign adversaries will access their communications
( if they have not already )
 
dmpi said:
There's nothing wrong with the US dollar other than we sold trillions of T-bills to China and now they're dumping them because they're desperate for those very 'despised' US dollars to prop up their own currency to keep it from going into free-fall.
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Or, they are intentionally devaluing the Dollar to help speed our way to economic recession. I tend to believe that since other nations are starting to unload their dollars and the rates for new T-Bills are climbing at every auction.
 
dmpi said:
Oh right... Japan doing the dumping. LOL. They just say 'Japan' because NOBODY want to say China is dumping or else their economy will go into total panic and meltdown. Trump wants a negotiated trade settlement, he doesn't want to destroy the Chinese economy because that will destroy ours too. Notice that Trump backed off when that happened, and then he made an effort to isolate China as the 'bad' free trading partner... as if the rest of the world didn't already know that. Bottom line is somebody needed to head to head against China trading practices and it might as well be now. The world world knows it, and they're behind Trump.
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I'm surprised someone on DP actually understands what's going on with these tariffs, but the fact that a conservative understands it is no surprise. The left here is eerily aligned with CCP goals and supports everything China does on the world stage. It seems like the DNC really wants to become a one party system modeled after the CCP. Like creating DOGE is a brave effort to address the rampant waste and corruption in DC, and Trump is the first brave enough to actually do it, these tariffs are meant to address the grave distortions in fair trade in the world economy, and most of it is because of China's export policies. Trump is the only POTUS brave enough to address this issue too. The neo-leftists here will never dig deep enough to understand just how bad international trade has become because of China, because they are in love with the CCP. There are reasons these neo-leftists have been dog trained to irrationally hate Trump, as he is the first POTUS with the balls to actually do something about the biggest issues facing America.
 
dmpi said:
Bottom line is somebody needed to head to head against China trading practices and it might as well be now.
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None of China's trading practices hurt American consumers, a group that consists of 330 million people.
 
dmpi said:
Oh right... Japan doing the dumping. LOL. They just say 'Japan' because NOBODY want to say China is dumping or else their economy will go into total panic and meltdown. Trump wants a negotiated trade settlement, he doesn't want to destroy the Chinese economy because that will destroy ours too. Notice that Trump backed off when that happened, and then he made an effort to isolate China as the 'bad' free trading partner... as if the rest of the world didn't already know that. Bottom line is somebody needed to head to head against China trading practices and it might as well be now.
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Odd that he didn't lead with trying to negotiate, no?

dmpi said:
The world world knows it, and they're behind Trump.
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Evidence of this would be great, because if actions are any indication, this is laughably incorrect.
 
dmpi said:
Bottom line is somebody needed to head to head against China trading practices and it might as well be now. The world world knows it, and they're behind Trump.
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ElChupacabra said:
Evidence of this would be great, because if actions are any indication, this is laughably incorrect.
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Do you honestly want to go on record saying that the countries with bigger economies are supporting China's trading practices and aren't supporting what Trump is doing with China? Really?
 
Big Brother said:
Do you honestly want to go on record saying that the countries with bigger economies are supporting China's trading practices and aren't supporting what Trump is doing with China? Really?
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Then it should be easy to cite their support and who they are. Of course, you should at least be honest and focus on the topic, rather than trying to make this about whether nations are on board with China's practices generally. What's at question here is support for what Trump is doing to solve trading issues with China.
 
ElChupacabra said:
Then it should be easy to cite their support and who they are. Of course, you should at least be honest and focus on the topic, rather than trying to make this about whether nations are on board with China's practices generally. What's at question here is support for what Trump is doing to solve trading issues with China.
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Other countries are imposing steep tariffs on Chinese goods as well. How can they hate Trump's tariffs when they themselves are doing the same? Have you read about the EU imposing steep tariffs on Chinese EVs? That's just one of many examples. The EU is tired of being a dumping ground for Chinese goods and is retaliating just as Trump is. You're plugged into the Anti-Trump narrative network and not into the real world.
 
Big Brother said:
Do you honestly want to go on record saying that the countries with bigger economies are supporting China's trading practices and aren't supporting what Trump is doing with China? Really?
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Xi is forced to go Vietnam, Malaysia and Cambodia with his tail between his legs to try to patch things up. The guy can't even go to Thailand because the Thai people blame China for faulty construction during the earthquake. All agreements need to be reevaluated in light of America's demands. Xi sees his situation becoming more dire by the day. You may see him fall and a new Chinese leader put in. That way China has more latitude in ignoring old agreements and changing course.
 
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