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.