Last edited by Suppressed Poet; 04-11-2025 at 10:18 AM.
It looks like loss of reserve currency status for the Dollar is a feather, not a bug, in Trump's plan. Here is an Axios summary of what Stephen Miran, chair of the White House Council of Economic Advisers, said in a speech on Monday..
What they're saying: "President Trump has made it clear that he will no longer stand for other nations free-riding on our blood, sweat, and tears, whether in national security or trade," Miran said at the Hudson Institute.
- He argued that the primacy of the U.S. dollar in global finance and trade — long viewed by American diplomats and economists as a source of strength — has carried downsides.
- "While it is true that demand for dollars has kept our borrowing rates low, it has also kept currency markets distorted," Miran said.
- "This process has placed undue burdens on our firms and workers, making their products and labor uncompetitive on the global stage," fueling the loss of manufacturing jobs, he said.
Between the lines: This is a departure from the mainstream view that the dollar's dominance in the world economy generates exorbitant privilege, including investment inflows, lower borrowing costs, higher consumption, and the ability to exert world influence.
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Last edited by Suppressed Poet; 04-11-2025 at 05:02 PM.
I asked for neither your Opinion,
your Acceptance
nor your Permission.
"The darkest places in hell are reserved for those who maintain their neutrality in times of moral crisis." Dante Alighieri 3
"It took 2000 mules to install one Jackass." Diamond and Silk Watch the Movie
And you are still wrong as of now. negations doesn't mean anything is being eliminated. It means they are, you know, negotiating it. Both sides could say go fuck yourself.
For your example, baking a cake means you already have all the ingredients and are mixing and heating them. Negotiating means they are thinking about buying the stuff to bake a cake.
You're just wrong as of right now. They MAY in the future decide to bake a cake, but they haven't decided yet. They may elect for pie instead.
Last edited by Gelston; 04-12-2025 at 02:33 PM.
Ceterum censeo Carthaginem esse delendam