this post was submitted on 28 Jun 2025
778 points (98.3% liked)

World News

47937 readers
2717 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] skisnow@lemmy.ca 7 points 23 hours ago (2 children)

It's a common American view that the other countries weren't spending "enough", whereas from the perspective of everyone else on the planet it's America that's spending a hugely disproportionate amount of wealth on killing, and just expecting its allies to do the same.

https://www.globalfirepower.com/defense-spending-budget.php

[–] aaron@infosec.pub 4 points 22 hours ago* (last edited 19 hours ago)

My comment on Europe needing to spend more was simply in terms of the reality of facing down a belligerent Russia.

Americans generally do not seem to understand that their massive military spending is actually in support of and necessary as long as they wanted the dollar as global reserve currency. This doesn't surprise me and isn't really a criticism (we have similar issues in the UK). The American people I have come across online appear to have grown up being told they are exceptional, the best, apparently without actually being told the reality of 20th century economic history.

The world was forced to buy oil in dollars due to the arrangement the US made with the Saudis, meaning the world had to buy US debt if it wanted oil. Obviously in this scenario the US print the money other people are borrowing facilitating the transfer of wealth that is coming to an end. When the likes of Saddam Hussein said he was going to sell oil in Euros he got a good ol' dose of freedom. The 9/11 attackers were Saudis but the US would never touch them due to this arrangement. Anyway, this is why US defence spending has been what it has been. It isn't the case that the rest of the world should have paid more. In fact the rest of the world paid the US deficit at least in part by this mechanism. Trump is bringing those halcyon days to a premature end intentionally because now he wants the likes of Europe to pay US debts but not get military support lol.

If/when the US doesn't spend that money on military support of regions like Europe the US are in a sense reneging on their agreement and so they no longer get that global reserve currency status, everybody sells US debt, the dollar is greatly weakened (which might be what Trump wants, in terms of making US made goods affordable for people outside the US, whether misguided or not) and presumably interest rates rise considerably. Moving away from SWIFT and the WTO are 100% unambiguous signals of the EU's intent to 'dedollarise' we have seen in just the last few days.

This reserve currency status is roughly what has given America a large amount of unearned global wealth post ww2, and more or less allowed boomers to buy a home on one wage etc. Changing it is a huge upheaval on US life that will last many decades. Military spending has supported the dollar, Trump is more or less throwing that away.

[–] ryathal@sh.itjust.works 1 points 23 hours ago

I'm pretty sure that last decade or so has shown that Europe doesn't spend enough. It's not just Russia's invasion. Military action in Libya was reliant on the US to sustain more than a few days of action.