Deutsche Bank's Jim Reid says Moody's recent debt downgrade continues a drip of bad fiscal news for the American economic outlook.
  • Maeve@lemmygrad.ml
    3·
    12 hours ago

    Apparently running state economies like states encourage personal economies to run – by taking on more debt-- is counterproductive to personal and state interests, and extremely productive to the interest of global oligarchs, who are after all, the real rulers.

      • Commiejones@lemmygrad.ml
        3·
        16 hours ago

        No it wasn’t but the situation wasn’t necessarily terminal before trump. Tariffs are the anvil that broke the camel’s back. The us might have been able to make some changes and keep limping along for an undetermined amount of time but tariffs were not the move. It was a doozy of a fuck up and there ain’t no going back now.

        • 小莱卡@lemmygrad.mlEnglish
          6·
          9 hours ago

          if it wasn’t trump it would’ve been someone else, what we are witnessing right now is a qualitative change due the sum of quantitative changes throughout all these years.

        • -6-6-6-@lemmygrad.mlEnglish
          11·
          13 hours ago

          It pretty much was terminal, the cyclical recessions and economic collapses every 4-6 years was getting worse and worse each time as more and more wealth is transferred upwards. The tariffs were an easy way to bully “lesser” countries into more favorable “business-deals” while also funneling immense wealth from straight up market manipulation and insider-trading towards the top. Of course, with each wealth-transfer, it becomes more unsustainable, however that’s exactly the path America has been heading towards since the 70s-80s.

          From this there is essentially going to be a new status-quo with interests shifted West towards China and at home instead of the european theater.