Exorbitant Privilege

https://en.wikipedia.org/wiki/Exorbitant_privilege

42 4 1 year ago

en.wikipedia.org

roxolotl• 1 year ago

I’m so curious how the current administration views the position of the USD. From the outside it seems like they don’t really understand it. And it’s totally possible that’s just true. But I find it hard to believe at least a few don’t understand they are playing with fire.

zamalek• 1 year ago

People will make themselves believe whatever the man that keeps them in power tells them to believe. We've seen multiple 180s in opinions, including his right-hand lunatics.

superbowl• 1 year ago

how the current administration views the position of the USD

I found [0] helpful. It was written by the head of the administration's council of econ advisors (Stephen Miran), and appears to align with the admin's actions.

A recent, brief interview with an analyst on German public media ([1]) supports the idea that this is the guiding policy.

[0] recommends a gradual approach, to avoid a shock, which the admin doesn't seem to care about, so perhaps some understand the risks and others don't.

[0] https://www.hudsonbaycapital.com/documents/FG/hudsonbay/rese...

[1] https://youtu.be/3YR5hvqAaIk?si=D9ZyES41UEvXWdYx

huitzitziltzin• 1 year ago

What individuals may or may not understand is irrelevant. The professional staff at Treasury or Commerce will include a variety of people with a lot of relevant knowledge and experience.

Then there are people who clearly don’t understand (but should know better) like Navarro.

The beliefs of the man at the top, which are not particularly fixed and vary from hour to hour according to what has most recently been tweeted at him, are the only beliefs that matter.

He is not known to be a deep thinker about matters of international economics so I wouldn’t expect much!

Exorbitant Privilege

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