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Wall Street Is Quietly Funding Itself in Renminbi — and Goldman Is Leading the Way
(europeanbusinessmagazine.com)
this post was submitted on 27 Apr 2026
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I agree that the sentiment has been a lot like you describe, just putting some personal observations in there. I know the below statements do not reflect your own opinion, but the national trend in USA.
OK that's maybe overstating it, but both are authoritarian.
It's better, but Social democracy is the actual center of balance between the two IMO. Today some people include Social democracy as a form of socialism, but originally socialism and communism are near identical. With Social democracy being very different because it work with free market economy and democracy, but with regulation that protect workers and ordinary people much more than for instance American capitalism, that is extreme by European standards.
I also agree that in USA oligarchs are a major danger, the infamous Koch family has done enormous damage to democracy in USA, and Musk definitely helped Trump win a state in the presidential election.
But I think the red scare stigma will be harder for the right to use against the American people, because politicians like Bernie Sanders and AOC are very popular, together with many Social Democratic policies. They will probably try, but for now, their "weapons" are fear of immigrants and to lose religious "freedoms". Like to discriminate minorities. This is packaged with extreme propaganda about how Liberals will take your money when they increase taxes.
Unfortunately the Trump election has showed us that the American population is incapable of seeing through these lies, so your fear is valid, I just don't think they will go for the old fashioned "red scare".
As it is, I don't think China will take Taiwan, they want Taiwan to reunite with China, but seeing how bad it went for Russia in Ukraine, and now for USA in Iran, I think China will pursue a peaceful joining like they have always claimed for decades is their policy, even if it wasn't always entirely true.
I think Taiwan will surrender after being pressured to buy Trump. If they get invaded and the US needs to back them up, either America will lose or America will be seen as weak by not helping their ally. If Taiwan surrenders, Trump saves the most face. It all depends on how stupid Trump is and how distracted he is by other matters. At the end of the day, allies don't matter to him, and he's a bully who only wants easy results against weak enemies. I don't think he sees China as weak like he saw Iran.
As far as the red scare goes, I don't think it'll be as successful as past efforts, especially in the long run. It will be messy and horrible to live through, but the very same sins of capitalism that allowed fascism to rise will prevent the right from squashing socialism like they did before. Socialism was crushed in the past because of the goodwill liberalism earned through social democracy. By trying to crush the left without offering anything in return, liberalism will lose even more luster than it already has. The fascists could capitalize on this, but so could feudalists, so could regionalists, so could socialists. Regardless of who comes out ahead, the red scare will do more to harm liberalism than anything else.