USD value doesn’t really matter. The U.S. is obscenely wealthy in many ways that go beyond just the value of our currency.
The world operates on a global market especially for commodities like crude oil, fertilizer, natural gas, iron ore etc. Even if it is produced domestically, the base price is set based on the world's supply and demand. If the USD falls in value, many resources are inputs to the economy. Fertilizer affects agriculture for instance.
I do understand.
But It IS a good meme to exploit the divisions within the US. There is a perception that the "Epstein class" is hierarchically above the supposed laws.
In a similar way, the build out of AI data centers are a current news item that reflects the unequal allocation of energy and water within the country because of the dominance of a few tech companies in the economy.
Both topics could unite the masses in the US to oppose the capitalist class.
What I don't see is how that would create any coordination with socialist movements in the Global South. It's not in their material interests.
These experiences are radicalizing people. The fact we benefit from imperialism isn’t being felt; we cannot feel or perceive it. The privilege might be there but you’d be hard pressed to find an American struggling to survive who feels like they got it better than somebody else in the world.
They may not perceive their advantages but the advantages exist. If the advantage of the USD value went away, they would be even worse off than they currently are. So it is AGAINST their material interest to lose the power of the USD.
Because of that, the path towards a socialist revolution in the US is not straightforward.
It's actually not in the world's interest to see a USD collapse either. Some sort of black swan event could cause that and then everyone worldwide will have no choice but deal with it.
Material conditions (think relations rather than stresses) influence one’s worldview, even with relative poverty.
Right. And at the nation level, Global South countries learn that in particular big sectors like mining, agriculture, oil, clothing, they need some sort of nation level solidarity to make the big deals.
If they don't, they get hyper exploited. If they have a comprador class of sellouts running things, they're fucked. Hence this is where the socialist revolutions are going to come from IMO.
The socialist groups in the US don't have that aspect that can unite the masses.
MAYBE AI data centers are a unifying target for everyday people because of how much of a drain on the US economy they are.
Calling out the Epstein issue hasn't really done it.
However that imbalance is the result of systemic capitalist extraction and superprofit, which must be dealt with by a changing of the base. Something that is not possible without revolution, which is why I was also referring more to the necessity of building an intersectional class consciousness among the lowest echelons of US society,
I don't think that revolution will happen. Historically the communist revolutions took place at a nation level in opposition to EXTERNAL exploitation. You don't have that in the US. It's not in the class interest of the lowest echelons of US society to overthrow their government because they still do benefit from the imbalance of the global economy.
The buying power of the US dollar gets them the affordable clothes, fuel, electricity, white goods and so on. If the USD fell, their purchasing power would go downhill fast, leading to a drop in living standards. Similarly if they tried to produce the manufactured goods themselves rather than purchase from overseas, it would be less affordable.
This is why that solidarity doesn't exist.
But the US sits in a different position in a globalised economy. The poor in the US are still consumers of resources from the Global South. In terms of the Earth's production, it's a big funnel and the Global South consumes a tiny amount relative to the West. Even those in poverty in the US consume a lot more based on metrics like electricity use, fuel, steel, fertilizer, clothing etc.
There's a big imbalance there regardless of the internal inequalities of the US.
Saw this one also. It's very hit and miss. Don't think it's worth posting around.
We will see the same shit as 2008: Those rich people getting the fresh dollars leads to asset prices going even higher. I think it's already happening a bit now. And the US rich don't invest in companies that employ a lot of people any more.
I think the Fed will print more dollars like crazy because they don't want to stop the economy train. The AI bubble will be bailed out like the banks were bailed out in 2008.
Except American leadership never admits defeat. It takes the NEXT leader who replaces the original to actually reverse the stupid decisions made. In recent conflicts it has taken a number of iterations of leadership change before America has begrudgingly retreated and pulled their forces out, regardless of the costs. (See Iraq, Afghanistan, Vietnam, etc etc)
The idea that Trump, of all people, will weigh the costs and rationally decide to make logical choices now is super optimistic to put it lightly.
Everyone should just give up on america at this point. Its a rotten place that wont reform for the good.
That's the difference between reform and revolution. There are no big reforms coming. The country has been glazing itself for too long. Only when shit gets bad enough, then a revolution can occur.
If there is a socialist movement that can take advantage of the conditions, it can progress towards socialism.
This got a chuckle out of me.
Because the US needs to purchase resources on the global market as inputs to its economy. The purchasing power of its dollar maintains the prices that it can acquire those resources.