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Capitalism and fascism
(lemmy.ml)
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this post was submitted on 18 Jul 2024
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Also a result of the inevitable decline of Capitalism and Imperialism, which is what we are seeing in America, a desparate and incorrect ploy to "turn the clock back" to the "good old days."
It can't be beaten electorally, it will remain until it either succeeds or Capitalism itself is escaped and we transition to Socialism.
I don't see a decline in US capitalism or (US-style) imperialism anytime soon. It seems extremely well positioned to continue to be the #1 world power and influencer, even if its regional political and economic influence wanes a bit. US foreign policy is that of a bully in the sandpit who breaks any toy denied to him. Domestically, from the outside it looks like an absolute shitshow, with the masses cheering with hysteric enthusiasm as they are thrown one by one to the lions.
US influence is waning, and the Global South is throwing off the shackles of the US. It won't happen immediately, but with weakening Imperialism will come weakening domestic conditions until it cannot be sustained any longer.
Dedollarization and constant US imperial overreach are the two factors which are most likely to break US imperialism in the mid to long term.
American economic dominance is propped up by the ubiquity of the dollar in general trade as well as the Petro dollar. In general trade, more and more countries are pivoting to trading in their own currencies or Euros and Yuan and Rubles because of the destruction of confidence in the US dollar as a neutral reserve currency due to recent sanctions against Russia. In terms of the Petro dollar, the trend of decarbonization means that oil will be a less critical commodity over time and even now we see the likes of Saudi Arabia agreeing to sell oil to China in Yuan. Without US dollar dominance, America will not be able to print as many dollars to service its debts, which will lead to either inflation or debt default.
America, like the UK and France before it, doesn't have the ability to fight all of its repressed imperial subjects at once. The cracks are starting to show at the US giving up against the Houthis in Yemen. The US and EU has also pegged its military prestige to the war in Ukraine, which is also starting to turn. Not only are they taking a reputational hit with every picture of a burnt out Abrams or Leopard, but lesser US allies are also starting to see that full US support doesn't guarantee victory. Even within US policy circles there is some acknowledgement that defeat in Ukrain could lead to some sort of Suez moment for the US and NATO.
There's a lot of people pinning their hopes on the global south and the decline of the dollar. I just don't see it, and it seems like wishful thinking. If there were a real risk to US supremecy, we'd see serious chaos unfold, setting them (edit: not the US) back significantly. The gloves are still on just now.
The US chooses when and how to intervene. With Israel vs Iran, it was clear. With NATO, it is clear. With Ukraine, it is still wishy washy - Ukraine can't lose, but it doesn't need to win for the US' strategic goal of a weakened russia to be met. One can easily argue that it helps. Russia and its allies will continue to shit stir in "minor" ways elsewhere as a result, distracting but not really hurting the US.
Mate we're extremely in debt trying to get Iraq and Iran to bend the knee like all the other countries we've imperialized and not only is it not working, it looks like its never going to work. In the 1950s we held 50% of the worlds wealth. Not only will there be a decline in the near future, the decline has been going on for 30 years
The world economy is huge and growing, and the US economy is damn strong with a significant share of it. It also owns the world as far as raw military power and power projection goes. The US would absolutely use its huge military and economic advantages to keep its position as top dog if necessary. It is fine that the world's economy is growing (inevitable after the devastation of ww2, which barely touched the US; also industrialization in countries like china), but it doesn't mean the US is any weaker for it. And anyone who thinks the US won't keep its rivals in check (no doubt leaving a trail of bloody corpses behind) has not been paying attention.