The elephant in the room is that the US had been operating as the chief architect and manager of the global economy for the last 80 years, a role that made it the wealthiest and most powerful and most technologically advanced nation on the planet. Under Trump the US has voluntarily relinquished that role, and we're seeing lots of these little adjustments as the system flails as it adapts to it's previously steadfast leadership contorting erratically. But the real damage done isn't about credit ratings or trade agreements or Trump's ridiculous kidding-not-kidding tariffs. It's about a different power settling into the role as the indispensable trading nation, and one that prides itself on its stability and unopinionated economic cooperation. In other words, we're hosed.
Tragically hilarious from an outside perspective that a leader sees all the expense of the soft-power the US has paid so much for as "freeloading". Either you are the world leader and invest to stay in that position, or you're just one of the pack.
> Under Trump the US has voluntarily relinquished that role
I would argue the process was started under Obama, and continued under Trump and Biden. What caused that shift is an interesting question in itself. My theory is that once Obama won on the platform of limiting US foreign involvement, the writing was on the wall and the politicians after him all became isolationist as that seemed to win elections.
The difference is that Trump, an incompetent populist he is, doubled down on the process so much that it became a very conspicuous mess.
I suspect we'd be living in a completely different world if John McCain was elected in 2008.
Incompotent populist is certainly right for this group since none of his policies are actually for the population but for the very elite group he protects who stand to benefit the most from his policies.
we’re hosed because we can’t collect enough revenue relative to our spending. it has little to do with what you said, especially not any sort of move in the last 6 months.
