No one’s saying Americans don’t work hard or long anyway, the short life expectancy is evidence for that. But let’s not pretend post-WWII wealth came from some magical work ethic. At least not as guys scoring touchdowns from the couch say it is. While the rest of the world rebuilt from rubble, America got the only factory left standing, wrote the financial rules, printed the global reserve currency, and got paid to issue debt. You didn’t get rich because you worked better than everyone else, you got rich because the casino let you run the table with house money. You didn't work much harder, you worked safer, more funded, and more rewarded than anyone else for 70 years. That gilded setup is now fading fast, and global, multipolar, competition is real for the first time in generations. Pick a number but I'd say 30-40 percent of the wealth was free money.
And here's my useless 2-cents (already posted elsewhere, so my apology for the double triple post ) Actually, I see it the other way around. Other countries will very likely team up and reduce tariffs among themselves to hit back at the US, giving the US a taste of its own medicine. It ain't like the US can just go full throttle on every country and expect to come out on top. The US might think it can muscle its way through this tariff war, but if the rest of the world decides to team up against the US, it could end up isolated, holding a losing hand. Trying to play this alone might just backfire in a big way. So in the end, if everyone starts playing this tariff game, the US could very well find itself isolated, while other nations get creative with their economic retaliation—reducing tariffs amongst each other, building alliances, or finding alternative markets to sell their goods. It’d end up being a lose-lose situation for the US as it gets boxed in from all sides.
I think USA will win this tariff war. My thoughts are still evolving on this. This is not just some economic Armageddon. Look at it from geo-political perspective. Look at all the international leaders that Trump met soon after taking office. There is a pattern in this chaos. Trump is navigating a shifting world order. He is trying to negotiate the best terms for his country. He refused to join the Trans-Pacific Partnership for supply chains. USA is one of the two major economies that did not join. Now is is trying to negotiate trade deals one on one with all those countries. Had Trump not lost the 2020 election, this would have evolved much earlier.
Can you point out to any instances of the US winning a trade war? So far, it's not. So far it's just a stock market correction. No tariffs have been paid yet. No actual effects on the economy - again, so far, etc. We'll see in 3 months. Also, do keep in mind that the tariffs are just a small part of it. There's also the threats of annexation and military force, the constant insults to allies, the siding with Russia, the disregard for the rule of law and the removal of all checks and balances, the dismantling of the federal workforce and US-funded science, the nearly total elimination of US soft power (USAid, embassies), the so far incompetent (yet unnecessarily cruel) attempts at mass deportations, the healthcare "disarmament"...
Good video. It reaffirmed what I've always maintained, namely Bitcoin itself isn’t the problem. It’s the way people get sucked into the hype, chasing profits without thinking of the long-term consequences. Human greed turns every opportunity into a speculation, and once the bubble bursts, it's always the same story. People get left holding the bag, while others walk away with their winnings. It’s the same shit every time—just dressed up in digital currency now.
Because it is another ploy to have him and his Blackrock inner circle (who bought into the Panama Canal) loot the country even more. That crypto scam was the first policy and when nobody objects, in their eyes, manipulating the real market is legitimized.
I have a personal theory why Trump is so dead set on imposing tariffs, not just on China but on its closest allies like Canada and Europe. It's because the asset market, in particular, the stock market is just too damn high with too much bubble that it's running out of steam and there is nothing in the horizon that can bring it down for wealth to be recreated. The stock market is just at a too high of a point that's just not sustainable anymore. There is only so much money that can be printed. So to regenerate wealth for the market to go higher, you need to cool it down a little just like when you want your hair to grown longer, you can't just let it keep growing. Eventually the hair won't grown any longer and would be stunted. So to have the hair to continue to grow longer, you have to trim it and cut it and then the hair will continue to grown longer. Me personally I think the tariffs is the "hair trimming" and Trump is right, the stock market will be more robust and will go higher.
the proper way to do this is to bankrupt entire sectors and push the middle class into poverty. my infinite gamma paid off bigly.