We will never trust you again

[QV]

What are you talking about.

Trump Jumps 118 Spots On The Forbes 400 List Thanks To Presidency

Donald Trump lost money during his first term. Out of office, he found a formula for profiting off politics—now he’s piling up billions.

www.forbes.com

I wasn't tracking that. Thanks. He is a better businessman than I thought, and this kind of flies in the face of all the "he's terrible at business" narrative.

 

[Brad Sallows]

The irony of "we will never trust you again" is that I've felt that way about several European countries (France at the top of the list) for decades. None of them have been rehabilitated by the mere election of Trump.

The problem with "we don't trust X anymore" is that it prompts comparisons with "Y" and "Z". How did we feel about them before? And now?

That some have lost trust in the US (Trump) doesn't mean we ought to lose all trust (in the US). And the US could lose some trustworthiness and still retain more than a large tranche of other countries. Ironically, this should be supposed to be the case because the US system of government is less susceptible to revolutionary change. That some people spend so much time bitching about how hard it is to really change anything is proof of that, and if they at the same time are trying to spin up stories about permanent changes they are blowing wind out both ends.

 

[Czech_pivo]

Most US voters probably don't care much about abstract things like the advantages of owning the de facto international currency, or the fate of a country like Ukraine that not too long ago was regarded as being not much less corrupt than Russia.

Objections to what Trump has done ought not to sound so much like the grievers are projecting their own worries as "concerns" for the welfare of the US. Also they ought not to characterize "the US" as being the root of their discomfort. The number of people who support Trump and Trump's policies is a decided minority which temporarily has the support of enough independents to make it look like a majority.

Mostly what I hear are the lamentations of elites suddenly confronted with large new spending requirements.

‘Most US voters’ don’t understand the massive positives of having the world reserve currency because of the simple fact that their own political class doesn’t want them to understand.
If the price of oil was no longer priced in USD but in EURO or Yen or back in Sterling, they’d understand pretty fucking quick.
If the world payment system wasn’t in USD but in Rupees or Rubles, again they’d understand damn quick.
Ignorance is bliss they say and is no one more blissful than an American.

 

[Remius]

I wasn't tracking that.

You weren’t. Clearly.

Thanks. He is a better businessman than I thought, and this kind of flies in the face of all the "he's terrible at business" narrative.

You read the article right? No? Maybe you should.

 

[Kirkhill]

The Americans themselves have a simple solution

In God We Trust - Wikipedia

en.wikipedia.org

The corollary is: All others pay cash.

 

[Brad Sallows]

‘Most US voters’ don’t understand the massive positives of having the world reserve currency because of the simple fact that their own political class doesn’t want them to understand.
If the price of oil was no longer priced in USD but in EURO or Yen or back in Sterling, they’d understand pretty fucking quick.
If the world payment system wasn’t in USD but in Rupees or Rubles, again they’d understand damn quick.
Ignorance is bliss they say and is no one more blissful than an American.

If the USD stops being the "world reserve currency", then a large chunk of USD circulating abroad - about 45% of all USD in circulation, in the neighbourhood of $1T - will be orphaned. The US has already pocketed the gains from printing and spending that money. The "pretty fucking quick" realization would fall on many, many non-Americans. I suppose it in fact already has, and that efforts to swings away from the USD will meet a lot of resistance from Very Serious People.

[Add: whatever currency people use to buy oil, they have to have that currency, which means they either need to buy it from someone else - hoping that not everyone has the same need at the same time - or increase their exports to whichever country prints it. Good luck massively spinning up exports to China, Russia, or India.]

 

[QV]

You weren’t. Clearly.

You read the article right? No? Maybe you should.

I did skim it, nothing jumped out. Is he committing crimes? Is this like the Nancy Pelosi scenario?

 

[Czech_pivo]

If the USD stops being the "world reserve currency", then a large chunk of USD circulating abroad - about 45% of all USD in circulation, in the neighbourhood of $1T - will be orphaned. The US has already pocketed the gains from printing and spending that money. The "pretty fucking quick" realization would fall on many, many non-Americans. I suppose it in fact already has, and that efforts to swings away from the USD will meet a lot of resistance from Very Serious People.

lol.
Ask El Salvador.
Those Very Serious People are moving themselves into Crypto.

 

[Brad Sallows]

lol.
Ask El Salvador.
Those Very Serious People are moving themselves into Crypto.

Better not lose their keys.

Meanwhile I'm looking forward to hearing the arguments of the people who think elevating China or Russia is an acceptable solution.

 

[Remius]

I did skim it, nothing jumped out. Is he committing crimes? Is this like the Nancy Pelosi scenario?

You made an erroneous claim. You were given receipts. Something you are quite good at avoiding.

Nothing beyond your worldview that isn’t consistent. It lessens your position and your credibility on any of this.

 

[QV]

You made an erroneous claim. You were given receipts. Something you are quite good at avoiding.

Nothing beyond your worldview that isn’t consistent. It lessens your position and your credibility on any of this.

I thank you (again), Remius, for correcting my understanding. I am now aware that Trump org has reversed prior losses in wealth while DJT was serving as #45. Anything else you'd like to bicker about?

 

[Czech_pivo]

Better not lose their keys.

Meanwhile I'm looking forward to hearing the arguments of the people who think elevating China or Russia is an acceptable solution.

You won’t hear that from me.

 

[Remius]

I thank you (again), Remius, for correcting my understanding. I am now aware that Trump org has reversed prior losses in wealth while DJT was serving as #45. Anything else you'd like to bicker about?

You made the claim. Not my fault you are wrong about it.

 

[The Bread Guy]

I wasn't tracking that. Thanks. He is a better businessman than I thought, and this kind of flies in the face of all the "he's terrible at business" narrative.

“Captive market” is such a harsh term …

The business he seems to be best at is enriching himself & his family/friends via public office. Not an optimal look for any political leader.

But hey, maybe I missed the memes talking about how much more Clinton & Obama were worth after their presidencies praising them for being such great businessmen.

 

[Fishbone Jones]

Did none of those people ever think about how ordinary US taxpayers felt about the money US politicians were willing to spend around the world?

<rant on>
It isn’t just the US though, this Canadian and I'm sure there’s a few more, is sick and tired about how our own government spends money around the world. Canadians living in tents at -30, using food banks, trying to live with our devalued dollar, out of control immigration, and, and. All the while, our millions and millions of tax dollars end up on feel good, woke initiatives that most of us don't support or want. Money that our government gives to foreign interests that will never bear fruit or come back to Canada.

I'm sure that this isn’t the convo you wanted Brad, and it doesn’t really fit here, but we should get our own house in order before complaining about the plight of foreigners in the US. We can't argue from a position of financial and resource stability when our own government is trying to tank our economy, livelihoods, patriotism and national pride. All the while driving us into a WEF, globalist, marxist state of existence, overrun by millions of people that don't share our values, draining our social welfare system. <rant off>

 

[Fishbone Jones]

“Captive market” is such a harsh term …

The business he seems to be best at is enriching himself & his family/friends via public office. Not an optimal look for any political leader.

But hey, maybe I missed the memes talking about how much more Clinton & Obama were worth after their presidencies praising them for being such great businessmen.

Ilhan Ohmar - net worth $30 million. Up from one million just a few years ago. You don’t need to be POTUS.

Obama and Clinton didn’t donate their salary, produce million dollar projects without charging the taxpayer, sue liars and cheats then donate the awards won. They might not have had memes, but they definitely shafted their countrymen for riches.

And how many of our own government MPs have grifted the tax payer for millions of dollars over the last 11 years? As I said above, we should get our own house in order before we slag others for the same hypocritical reasons.

 

[Czech_pivo]

Ilhan Ohmar - net worth $30 million. Up from one million just a few years ago. You don’t need to be POTUS.

And how many of our own government MPs have grifted the tax payer for millions of dollars over the last 11 years?

No where near that level - full stop.

 

[The Bread Guy]

Ilhan Ohmar - net worth $30 million. Up from one million just a few years ago. You don’t need to be POTUS.

And how many of our own government MPs have grifted the tax payer for millions of dollars over the last 11 years?

And yet, many who complained about one side doing this haven’t complained about the other side doing the same thing.

Or some try whataboutism.

And that goes for all sides.

 

[Genetk44]

The hilarious thing is that Trump really doesn’t have to do anything…his rugrats and their spouses are out there grifting on his behalf. He and they learned their lesson during his first term……much better they stay out of the WH, the Oval Office and the public eye so they can quietly go about the business of using daddys position to enrich themselves and the whole family…daddy included.

 

[ytz]

Meanwhile I'm looking forward to hearing the arguments of the people who think elevating China or Russia is an acceptable solution.

I think it's less about "acceptable" solution than an "inevitable" conclusion. Power abhors a vacuum. And if the Americans withdraw from the world. Others will fill the void.