second major point i see is Hudson's point that Chinese imports to the USA are often from American owned factories in China. Potent! Staggering. Need some stats on percentages but potentially destroys the whole bogeyman.
20% of population against 5% of arable land sounds significant but isn't necessarily so. It all depends upon how much arable land the 20% needs. If they could feed themselves adequately on 0.5% of the world's arable land the apparently significant juxtaposition is revealed as really irrelevant.
Obviously an implied need for 100% of the world's population to require 100% of the world's arable land. Pretty ludicrous.
Thoughts: I recommend that you read or reread Michael Hudson's book, Super Imperialism, first published in 1972 It's now out in its third edition. (And that third edition is available as an audiobook on YouTube) That's what I do when I have a question about something.(Examine Michael Hudson's thinking... Hudson is a genius)In fact I'm recommend all his books including those on the history of debt which I find fascinating starting with forgive them their debts.
You may have already read these. In terms of dealing with balance of payments this is not been a problem for the United States because we've in the world's reserve currently in effect we print money that deals with the balance of payment problems, This goes into the giant pool of dollars and the world accepts this because the dollars the reserve currency. The danger is that at some point the world moves away and it moves on and no longer accepts the dollars, People once thought this was 30 years old then 20 been a long comes Joe Biden and he speeds the process up arithmetically I don't know how long the United States has, But when the dollar stops being the reserve currency that will be it. I think the United States should try to be a good world citizen recognized the problem recognized the free ride it's had for decades since World War II sit down with the world and try to have a smooth transition. That's not our nature.
As far as tariffs, I think there's too much debt for the United States ever to be able to reindustrialize. We no longer have the factories, We no longer have the skilled workforce It's not going to happen.
I'm trying to make some kind of systemic sense of how this might play out.
In the wider context, the kind of collapse being risked here would appear to contain other risks. For example, if the US cannot meet its debt obligations - particularly in a context in which a significant sector of the world outside the Collective West is not using the dollar and its reserve currency advantage is weakened - what would be the consequences of a US default on this unpayable debt?
Would it seem reasonable, for example, to anticipate second order cascade impacts and effects on world trade, supply chains etc or could such potential outcomes be contained within the West?
On a different, but related, track: would it be reasonable to surmise that in the kind of scenario detailed in this article that some kind of Great Reset would be required? And if so, on what and whose terms?
Also, I knew the answer for this initial question. It was for others, because I sometimes think about the future and engage in dialogue that helps me think with Perplexity AI. And I then share these exchanges in my Facebook group, very few people read them. So, examine this thread it depicts the future. https://www.perplexity.ai/search/in-terms-of-international-trad-VziPAWDMTDKxmfm_mhkTAg
second major point i see is Hudson's point that Chinese imports to the USA are often from American owned factories in China. Potent! Staggering. Need some stats on percentages but potentially destroys the whole bogeyman.
20% of population against 5% of arable land sounds significant but isn't necessarily so. It all depends upon how much arable land the 20% needs. If they could feed themselves adequately on 0.5% of the world's arable land the apparently significant juxtaposition is revealed as really irrelevant.
Obviously an implied need for 100% of the world's population to require 100% of the world's arable land. Pretty ludicrous.
that strikes me as a big one: In the USA capital controls the State.
Demonstrated, perhaps, by the list of those who put Trump there - and now control him?
https://open.substack.com/pub/ericzuesse/p/here-are-the-individuals-who-actually?r=b7hw3&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false
Thoughts: I recommend that you read or reread Michael Hudson's book, Super Imperialism, first published in 1972 It's now out in its third edition. (And that third edition is available as an audiobook on YouTube) That's what I do when I have a question about something.(Examine Michael Hudson's thinking... Hudson is a genius)In fact I'm recommend all his books including those on the history of debt which I find fascinating starting with forgive them their debts.
You may have already read these. In terms of dealing with balance of payments this is not been a problem for the United States because we've in the world's reserve currently in effect we print money that deals with the balance of payment problems, This goes into the giant pool of dollars and the world accepts this because the dollars the reserve currency. The danger is that at some point the world moves away and it moves on and no longer accepts the dollars, People once thought this was 30 years old then 20 been a long comes Joe Biden and he speeds the process up arithmetically I don't know how long the United States has, But when the dollar stops being the reserve currency that will be it. I think the United States should try to be a good world citizen recognized the problem recognized the free ride it's had for decades since World War II sit down with the world and try to have a smooth transition. That's not our nature.
As far as tariffs, I think there's too much debt for the United States ever to be able to reindustrialize. We no longer have the factories, We no longer have the skilled workforce It's not going to happen.
I'm trying to make some kind of systemic sense of how this might play out.
In the wider context, the kind of collapse being risked here would appear to contain other risks. For example, if the US cannot meet its debt obligations - particularly in a context in which a significant sector of the world outside the Collective West is not using the dollar and its reserve currency advantage is weakened - what would be the consequences of a US default on this unpayable debt?
Would it seem reasonable, for example, to anticipate second order cascade impacts and effects on world trade, supply chains etc or could such potential outcomes be contained within the West?
On a different, but related, track: would it be reasonable to surmise that in the kind of scenario detailed in this article that some kind of Great Reset would be required? And if so, on what and whose terms?
Thanks.
Also, I knew the answer for this initial question. It was for others, because I sometimes think about the future and engage in dialogue that helps me think with Perplexity AI. And I then share these exchanges in my Facebook group, very few people read them. So, examine this thread it depicts the future. https://www.perplexity.ai/search/in-terms-of-international-trad-VziPAWDMTDKxmfm_mhkTAg
I tried to reply to you but I keep losing the reply. I'm on my phone. This is the fourth time. I suggest you examine this essay from Michael Hudson since I can't seem to get my comments to show up here now, and when they do they're incomplete. https://michael-hudson.com/2025/01/the-road-to-chaos-a-global-balance-of-payments-war/