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https://www.truthdig.com/articles/goodbye-to-the-dollar/
The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire—the abandonment of the dollar as the world’s principal reserve currency. Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international finance, trade, diplomacy and war. These nations are quietly dismantling the seven-decade-old alliance with the United States and building alternative systems of bilateral trade. This reconfiguring of the world’s financial system will be fatal to the American empire, as the historian Alfred McCoy and the economist Michael Hudson have long pointed out. It will trigger an economic death spiral, including high inflation, which will necessitate a massive military contraction overseas and plunge the United States into a prolonged depression. Trump, rather than make America great again, has turned out, unwittingly, to be the empire’s most aggressive gravedigger.
(Score: 5, Insightful) by FatPhil on Tuesday February 05 2019, @11:12AM (3 children)
If you cannot distinguish between "Donald Trump has unwittingly triggered the fatal blow" and "Donald Trump is responsible for this and everything before this", then you are too ill-equipt to offer anything useful to the conversation.
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 0) by Anonymous Coward on Tuesday February 05 2019, @11:27AM (2 children)
He hasn't triggered anything and has no responsibility for this scam at all. Also, if he did unwind it that would be a good thing in the end.
(Score: 2) by bob_super on Tuesday February 05 2019, @06:01PM (1 child)
Can't even give him the benefit of owning that.
Bush Junior was the one who did it. Clinton left a superpowerful US with budget surpluses that were shrinking the debt (voted by R congress).
W squandered all of it, the goodwill, the shrinking debt, the smack-you-and-we're-out foreign interventions, just as China was rising. Cherry on the cake, his government spent 6 years not preventing the Great Recession.
Yes the US has bounced back, created lots of riches, still has the best weapons, many of the most advanced companies... but it ain't the same great growing stable welcoming reassuring US that it used to be. People will keep using the place to grow their money, but they are a lot more careful about it. And trust matters.
(Score: 0) by Anonymous Coward on Wednesday February 06 2019, @09:23AM
Clinton only had a surplus on paper, US Debt went up under Clinton
(yes accounting technically if you take out a billion dollar loan this year with no income, then you are a billion dollars in the green this year, neet how that works isn't it)