yogthos

Yeah that's not what invading is bud. Hong Kong is literally part of China that the Brits annexed. Meanwhile, Tibet was liberated from literal slavery. The core point is that it's the western regimes that dominate the world and commit atrocities across the globe on constant basis.

That's pretty easy. Take a look at China, Cuba, Vietnam, DPRK, as just a few examples. None of them are invading countries or plundering the world.

We as in the working class in Canada. That's who always pays the bill when there's an economic crash.

I generally agree with what you're saying regarding the US and China. However, I'd note that the actual split is between G7 and BRICS, and BRICS have already surpassed G7 in terms of PPP measure. BRICS represents the Global South, and it happens to be where majority of human population is, where the resources are, and where most of the industry is. Majority of Global South economies economies are aligned with China now.

What Carney appears to be focusing on are former vassal states that were under the tutelage of the US. Now that the hegemon is fading, the vassals are in trouble. What Carney seems to be trying to do is to rally Europe and Australia to form a bloc without the US, but one that's not directly aligned with the Global South.

And of course GDP alone is not useful measure of anything. The quality of development matters. Western economies are focused on stuff like software industry and service economy. They're not producing things people actually need to live. China is where all the manufacturing happens. They're the ones who build solar panels, EVs, and high speed rail that developing world needs. That's what makes China such a key economy for the world.

I also expect that the US is headed for collapse, and it's likely going to be far worse than what happened to USSR. That said, it's not at all clear that countries that hold US debt will be able to claw anything back once that happens. For one, the US is still full of nukes, so whatever states emerge out of it eventually will be nuclear powers.

The problem for Canada is more immediate though. Our economy is heavily dependent on the US right now. And unless we diversify and become more self sufficient, then we will be dragged down along with the US. Unless Canada takes steps to insulate itself then it will become one of these failed states itself when the western order finally collapses.

we're really not too far off at this point are we

There is something to be said about a society that allows the worst of its members to make all the decision. At some point, the rest of the society has to take responsibility for the atrocities said society commits. And that's particularly so in case of western societies which claim to be democracies. You can't have it both ways.

cool, I just saw it on my mastodon feed and had no idea who it was by

I've given you detailed explanations, and you simply ignored them. I asked you to point out what you disagreed with specifically, and you started dancing around that. Sounds like the answer to my question is that you are just trolling here, and you're not interested in having a good faith discussion.

Bye.

Once again, I ask you to specifically explain what part what my argument you disagree with. I've already addressed the screenshot you posted. You completely ignored the rest of what I said. And I strongly suspect that you either don't understand what I wrote, or you're intentionally trolling here. Which is it?

You seem to be utterly unable to actually engage with what's being said. Go read my reply to that comment. I'm not challenging that the bonds can be redeemed. Why don't you actually address what I said instead of accusing me of talking of both ends here?

oh I guess not exactly news, I just saw it mentioned

that's literally explained in the reply to the comment you screenshotted

Your focus on the current bond overlooks the market's forward looking nature. Yields are stable because they reflect a consensus that the Fed will eventually cut rates to avoid a recession which is a precarious assumption. The moment inflation proves stickier than expected or the US debt trajectory worsens, we could see a violent repricing happening. It would lead to a bond vigilante reaction where yields spike suddenly and crater the value of existing holdings.

The whole idea that interest payments cushion import costs only works if the Canadian dollar doesn't weaken alongside or faster than the USD in a crisis, and that is not at all guaranteed. When a crisis hits, all assets correlated with the US including our bond portfolio would suffer together. Meanwhile, the only sector of the US economy that's doing well are the tech stocks, and that's just a handful of companies passing IOU notes around in a circle. The rest of the economy is showing deep imbalances with weak consumer savings, shrinking industrial output, and persistent inflation in services.

The US is funding massive deficits in a high interest rate environment, and that can't go on forever. The war on Iran could act as a catalyst for the whole house of cards to come crashing down because it's driving the price of energy through the roof. The resulting economic crash in the US could be far worse than 2008, and at that point we'd be left holding the bag.