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I've said it from the beginning: these people will be undone by their own virtuosic incompetence. Give them enough rope, and they'll hang themselves. Right now, the MAGA Morons are trying to figure out how to tie the noose, but they'll get it eventually.
The only problem is the amount of damage they'll do before they finally collapse under their own stupidity.
As an outsider, right now I would say Steven Miller and Rubio are the most competent and "normal" by US standards. They will likely survive in the post Trump era and lead a republican minority until their moment comes. They will also criticize Mamdani in NYC.
A part of does think they are overplaying they’re hand but I think the point about bourgeoisie being scared signals precisely why they’re doing it. I think they see China ordering the dumping of all US assets by Nov 2026, and the bond market collapsing. They know military might is their only tool at this point to preserve capital, and that the neoliberal framework is eroding.
They are confident they can set the tone in this new wartime era and I don’t thunk they’re wrong
China ordering the dumping of all US assets by Nov 2026
I missed this, happen to have a link?
China ordering the dumping of all US assets by Nov 2026, and the bond market collapsing.
Just to correct a misconception here: there is no such thing as China dumping US assets. This has been the biggest Republican scaremongering about China and we don’t want to perpetuate it.
In order to sell an asset, you gotta have someone to buy it in the first place. The US dollar operates under a free floating exchange rate mechanism so if you try to dump a large amount of US dollars, and nobody wants to buy them at a rate that’s profitable for you, you lose.
In the past, this worked during the fixed exchange rate era because the central bank promised to convert the currency into gold or whatever metal/currency they are pegged to, and if you dump a huge amount of the currency at the same time, you’re betting that the central bank won’t have enough reserves of the gold/metal/foreign currency to defend their exchange rate. This was how Soros screwed with the Bank of England and the Thai central bank in the 1990s.
You literally cannot dump US assets today because it is not pegged to anything, so the Fed doesn’t have to defend the dollar exchange rate. Your best bet is finding a buyer stupid enough to buy from you at a rate that’s profitable for you, but the market players aren’t stupid (especially not the people/institutions/countries who can move trillions).
No I agree with you. The US can only flail around like a wounded ape for so long.
I don't think they care any more, do u?
FF7r-3: Reckoning due 2027 