wesapien

I agree. It's a finance capitalism issue. The people who build data centers get free reign on the use energy, land, water and the atmosphere while everyone will bear the cost. Its another upward transfer of wealth. Another wealth pump as Peter Turchin describes it. This could end whatever democratic process is left. The West will be just like China but worse. Slower trains and more violent. At least in China, Political power is in control of capital.

If only other countries just gave away their sovereignty then we wouldn't have to preemptively take away their sovereignty because if we don't then they will do it to us. If we don't instigate war then it will come to us and our stocks won't go up and contracts dry up.

One of the problems with the data center boom is its use of fresh water. How does geo-thermal plants use water and how much?

The cover story for tarrifs was re-Industrialization. The facts are that they are used more as another rent seeking maneuver, a street rat style protection racket or a means to coerce. Sell the theory but do something else.

It's an admission that the decades of preference falsification and praise of the emperors clothes is not worthy anymore. Carney hints that the same pressures that kept the dysfunctional Soviet system is similar to the same pressures that keep the dysfunction of capitalism, Neo-liberalism (religion) as well as Neo-classical economics (theology).

Most think that the cracks in the financial system started to appear after 2008 (global financial crisis) and become truly visible after the financial system was weaponized through the seizures of Russian central bank USD reserves. It setup a precedent that it happened once it could happen again to some other country.

Cheers to you for mentioning Triffin's dilemma. In my opinion, the dilemma is in the ability of the host country to be able to make "good use" of the exorbitant privilege. The financial system was not only used against other states but against its own people. Instead of developing the country and building equity through the middle class, it cannibalized its own.

Blackrock released a document you can download that outlines their 2026 outlook. A key point there was: "We go underweight long-term US Treasuries." A sign of bearishness on USD due to fiscal policy.

https://www.blackrock.com/corporate/insights/blackrock-inves...

I was there 2 years ago. I went inside one of the multi storey gaming places in Akihabara. The old school (90's and older) era games are a small section in one floor when there is 6 storeys of gaming.

Late Stage Capitalism. The real paper clip maximizers are the Silicon Valley and Wallstreet bros we met along the way.

If you got time, this is IMO a very good critique of the recent events by senior Americans: https://www.youtube.com/watch?v=594yN8rxIJo

Tarrifs can be useful in protecting your players in an new industry. In specific situations not using it like carpet bombing.

Thomas Sowell who is 94 has some wisdom to share: https://x.com/HooverInst/status/1907630250135273527?ref_src=...

Read up on 1900s world history and what path dependency is. The dollar is the reserve currency because the USA won the title of world power near the end of the first of half of the 1900s. It was formalized in the Bretton Woods agreement in 1944. The US helped win the war and gained enormous trust and goodwill around the world which it has slowly been squandering since then. POTUS hit the turbo button just a few months ago.

The PRC has strict controls of their money because that is how they can became the factory of the world. They played the hand that were dealt with and battled adversity and they are reaping the rewards.

The president said today that the US trade partners and allies/friends have been taking advantage. You can easily verify if that is true or false. US capitalists moved production overseas to make more money at the expense of the local workers. That's the scam.

Timur Kuran writes about this idea (preference falsification) in "Private Truths, Public Lies".

He explains that its this idea that had kept the Soviet Union (this bad idea/system) from dying sooner. People thought it was the system of oppression but in reality it was people who hated the system showed approval. https://youtu.be/xzjqjU2FOwA?si=aTG0GnJKVDoK_-qb&t=819

"Accordingly, for all the hardships of life under communism, they remained politically submissive for years on end." https://en.wikipedia.org/wiki/Preference_falsification

Fake, no not at all. Look around your where live. Think about who, where, and how those things were made. Scam? From whose perspective? There is only one global reserve currency. For all intents and purposes, that is the crown and heavy is the head that wears it. Sure it feels like a scam for anyone outside of the 1% or the political class or the plutocracy.

The world followed the lead and it just wanted reciprocity (exclude the enemies of course). What seems fake to you and who is getting scammed by who?

I think the outcomes achieved for domestic vs foreign is another interesting angle. The degradation of purchasing power of working and middle class is have been consistently getting worse.

It's only one of the key levers of power of the USA. No biggie. You give people money represented by paper but mostly bits/bytes in exchange for other peoples materials and labor. Can you unpack what kind of stuff you're talking about? Are we talking about nascent industries? This stuff, who are you going to sell it to ?

The political class and plutocrats always wins regardless of the election outcome. The two party system guarantees they come out unscathed regardless of their jousting.

https://x.com/_PeterRyan/status/1907879785151475801 Protectionism is like child rearing. You're trying to protect the young (industry) so they survive to adulthood. The tarrifs are too broad. How the hell are you going to sell goods from HCOL area to the rest of the less affluent world? Even if some countries could afford it, how are you going to get goods across burned bridges?

It's the elite wealth pump. Capital is a non-state entity but through corporations was granted person hood by states without a social contract. Trickle down economics was a complete scam and Richard Cantillon has the receipts for it.

The US has a very high standard of living as a whole. In order for it to compete with others, it must become "as poor" as others. You simply can't undermine your trading partners and not disrupt your privilege as the global reserve status.

Does that matter as much as citizens united?

God damn you nailed it. All the stupid wars for nothing. Rarely do I see anyone talk about these shenanigans as the mechanism to end the reserve status of the $ and the end for influence and affluence. It will breed a lot of resentment from some Americans thinking the world is against them. They could be used for war.

Peter Urchin says it is a plutocracy particular with the patch called Citizens United

Depends on the volume

Taking an isolated look into history is unhelpful and lacks wisdom. The events you mention will feel and sound raw due to how close it is to us. Looking at it this way, it only serves to protect existing entrenched power structures because it fails to acknowledge why revolution happen. If the system evolved, we wouldn't have revolution. It's the last straw.

At this point, the results clearly show it doesn't matter whether it's a Republican or Democrat regime. They both cannibalized the middle class and all this drama between them are effectively for show. Both parties and their donors benefit very well regardless of their party, particularly the defense, finance, pharma, and tech industries.

False equivalence. The strawman that sticks out gets hammered. Peter Turchin has mapped this out. The elite wealth pump is what's ending the US empire and prosperity. This is why Trump is in power. Talk and negotiations dont work anymore, do you think people will lay down and give up?

This is why America is so schizophrenic with money and government spending. People who behave like they are in a gold standard when it's not and advocate for treating the government spending like a household are so loud. This is not how the system works as described by MMT. The abandonedment of the gold standard is explained by economic concepts like gresham's law and triffins dilemma.

Education alone will not stop the wealth inequality and deteriorating living standards.

Laborer coordination and workforce strikes.