Cunigulus [they/them]

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Joined 2 years ago
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Cake day: April 27th, 2022

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  • Yes it’s king, but it’s also poisoning the competitiveness of US industrial firms along with all the structural maladies in the US that we can afford not to address because of the surplus extracted by our financial hegemony. The fact that we’re at the point where fiscal expansion is causing inflation despite the strong global role of the dollar, points to a terminal phase of the particular kind of dutch disease the US suffers from. Attempts to fix US industrial competitiveness are just pissing into the wind in this environment. US industry won’t revive until after its financial and monetary hegemony has collapsed. A smart US leadership would use its existing power to rebuild the foundations for competitiveness on a more level playing field, but US state capacity has atrophied. All they can do is funnel money to politically-connected oligarchs and placate industrial capital with half-measures. The current state of affairs suits China, and therefore BRICS quite well. They will continue to develop under current circumstances until they’re ready to move decisively against US interests, or until the US preempts this by starting a war early. Either way the US will lose, the only question is how destructive the conflict will be.