The safety trade is being out of the dollar. Gold has been a great asset of safety.And that's exactly what happened today isn't it. Hedge funds delevered by selling their treasury bonds. It's absolutely wild. — fdrake
When you read books about his first administration, they portray a very clear picture, which is repeated again and again.I think he's one of a committee, or more likely the figurehead, allowed his tantrums. Otherwise it's all his show, and I do not think he is remotely near that able. — tim wood
Thank's! Learn something new every day.14th amendment precludes it. It puts into question the validity of my claim compared to your claim either because of the identity of the holder or the type of instrument. But also, it would breach the terms of the issuance itself and therefore result in a contractual breach. — Benkei
I think he doesn't understand it. A political leader who thinks that enlarging the territory of the USA is a great idea at this time of age isn't the brightest one around, even if he can communicate so well with his base. People shouldn't themselves go down the rabbit hole and believe some deep conspiracy here.Question: does anyone think that Trump knows what a tariff is or how it works? — tim wood
I think we are witnessing a story of a quite ignorant yet great populist orator with ardent followers, who is unfit for the positions he is in now. And power has simply gone to his head, because of the acolytes and the yes men around him, who follow every whim he makes.The question: given what he is doing and has done, and what he says and how he says it, and the company he surrounds himself with and what they say and do, what makes sense as to what is ultimately intended? Putting all the parts together, what is the most likely structure that they all fit? — tim wood
And when have existing laws have limited the actions of Trump? He already has the idea of ruling by executive decree and then fighting in courts, if it comes to that.As a lawyer with experience with government bond issuance I don't see how this is possible under US law. There are no laws that provide for prioritsing or selectively paying only some holders or issues. — Benkei
If there is the ability to have sanctions, to freeze assets, why not this then? If there's no law specifically against it.There are no laws that provide for prioritsing or selectively paying only some holders or issues. — Benkei
Basically in a democracy, this can be done if people really are OK with this. Far easier it is to think of this from the perspective of who can run for a political position in elections. The case of Marine Le Pen in France shows that this is a current issue.My only suggestion to require that a prospective voter show he can function as an adult, either through education, service, or work, a one-time basic test that a person can take as many times as it takes to pass, if they fail. A person needs a licence to drive a car, both the car and himself required to keep and maintain certain standards of ability and care. Is it so outrageous or difficult to have similar standards to drive the state? — tim wood
This might be changing now. Saudi-Arabia's financial minister said already in 2023 that the Kingdom was open for selling oil in other currencies than the dollar. Note that the Saudi currency Rial, as the other currencies are pegged to the dollar.Another issues (already mentioned by others). Because the US dollar is the world’s reserve currency, there is enormous global demand for it. Central banks, companies and investors across the planet use the dollar for trade, savings and investment. That demand for dollars drives up the value of the dollar and keeps capital flowing into US markets. In this context, the trade deficit is not a sign of weakness but a reflection of global trust in the US economy. — Benkei
(the Guardian, Feb 16th 2025) “We’re even looking at Treasuries,” the president told reporters. “There could be a problem … It could be that a lot of those things don’t count. In other words, that some of that stuff that we’re finding is very fraudulent, therefore maybe we have less debt than we thought.”
The suggestion was that opening up the US Treasury’s data to Elon Musk’s “department of government efficiency” team had identified a money-saving wheeze: why not walk away from some of America’s debt obligations – a “selective default”, as economists call it.
Because I genuinely think that Trump believes in the false idea of trade being a bad thing, when the US has a trade deficit. He truly believes in tariffs having the effect of luring in manufacturing into the US. With a default, it might be that even the fringe thinkers like Peter Navarro see it as a bad idea. But who knows. It can be the next thing Trump does after this.Yet, the only way to get rid of it, seems to be to destroy trust. Then why do it through tariffs? Why not simply default on debt? — Benkei
Why do we ought to assume this? What could you give evidence for this. This doesn't seem like a bluff or only a negotiating tactic. If countries want to make deals, Trump might go with those, but he looks to be perfectly happy having the tariffs and truly assumes that the tariffs will lure manufacturing back to the US.We ought to assume that Trump is informed, and actually knows this. Therefore we can ask what is his real intention behind the use of tariffs. — Metaphysician Undercover
In my country, age is actually enough because for any adult citizen of the country voting is a Constitutional right. How severely handicapped a person is doesn't limit this at all.One person, one vote. Fair enough. Why not give the vote to infants, then? The idea is that a minimum competency is required to vote. I'm suggesting that age is not enough. In a society where pretty much everyone receives a standard education, I think it's reasonable to require some mastery of that education, and a relatively easy test. — tim wood
Look, this is simply a problem with all democracies. It does ask a lot from it's citizens. End of story. In my country the Parliament can change the Constitution, so basically there is no limitation on the laws they can make. They can decide that all naturally redhead women and witches and thus are a threat to the security of the nation, thus they have to be imprisoned.Either that or the incompetents get to vote, and may even get to run the asylum. Which is happening as we speak in the USA! — tim wood
Assassination culture? Sorry, but sounds quite similar to the "rape culture" that suddenly had become so widespread when we had the "the woke" saying earlier.But even on this humble forum, authors are promoting or are otherwise cheerleading for the ostracism of human beings on the basis of whom they voted for. — NOS4A2
Perhaps not.A couple of ideas I have are for the requirement to pass a one-time test to earn the right to vote. And it would have to be difficult enough to fail, at least at first, a lot of people. Perhaps requiring the equivalent of a very good high-school education to pass. Or four years' military service. Or four years' college plus two years' full-time employment. Or just a term of full-time employment, maybe six years. — tim wood
There's no misunderstanding. Or the misunderstanding won't be erased by talk, but only by actions.I think we should talk to Trump. There is a lot of misunderstanding between Europe and the new US administration. — ChatteringMonkey
US President Donald Trump's billionaire advisor Elon Musk said on Saturday he hopes in the US and Europe could eventually establish “a very close, stronger partnership” and reach a “zero-tariff zone situation.”
Musk was speaking via video link the party congress of Italian far-right party League, which is in a ruling coalition led by Premier Giorgia Meloni.
"I hope it is agreed that both Europe and the United States should move, ideally, in my view, to a zero-tariff situation, effectively creating a free trade zone between Europe and North America," Musk told Matteo Salvini, the LEGA party leader, via video conference.
Many took the wrong lessons from Trump's first administration.These corporate types, who could care less about making things in America again and just wanted to free themselves from high taxes and Biden’s regulatory crusade (Zuckerberg, Bezos, Musk, etc) had every reason to believe Trump’s second term would be a repeat of the first. I certainly thought it would be, and like many was stunned to find out that he actually took his half-assed 19th century mercantilism seriously and was willing got to go the distance with it (at least so far). His current all-out tariff war may not have been a surprise to North Carolina MAGA supporters, but it sure as hell was to many wealthy businesspeople who voted for him, and are now regretting it mightily. — Joshs
Or the thoughts themselves are absurd and chaotic, but nobody dares to say to the Donald if something is genuinely a terrible counterproductive idea.The problem I see with the Trump plan is more that it, like everything his administrations do, doesn't seem well thought out, is implemented chaotically, and will likely be subject to all sorts of favoritism. — Count Timothy von Icarus
This isn't about a fall like let's say Yugoslavia. What I mean is the similar kind of political instability that Latin America can have. Latin America has had it's share of political instability, but no Latin American country has become a failed state, even if Venezuela could be said to be on the way. Above all, Latin American countries do work... somehow fairly OK. It's not the kind of political instability that you find in Africa. For a long time we haven't seen something comparable to a real revolution in Latin America.This is just an observation, when you just look at what has happened in the US already, even if it has been the richest country in the World, it has been prone to political violence, riots and so on.F) Not likely. A nation's stability is also proportional to its size. A nation as large as the US takes longer to "fall" than smaller nations. — Christoffer
I think here the political situation or climate change are a very minor factor.Well that's an interesting gloss. so they probably do want kids, but ... their position in the world, or the condition of the world is such that they do not want them. — unenlightened
No one has utilized so many tariffs — NOS4A2
Or then double down if other countries put tariffs on the US. The US has a surplus on services trade, so likely that will be hit. And then when the economic growth goes negative, Trump will insist that it's just a time for "detoxing". As @Josh put it so well, tariffs here aren't just a way to bargain for a better deal for Trump, it really is the way he incorrectly thinks that manufacturing gets back to the US.Now presumably he will do deals. Deals in which he will extract something from other countries in return for a reduction in tariffs. — Punshhh
This is so true.Trump only won the election because his core MAGA supporters were joined by libertarian free-market neo-liberal business types who believed Trump basically shared their economic perspective, and just used tariffs as a bargaining chip. — Joshs
Just think if we would have this kind of forum in the 1930's, where people anonymously participated from both sides of the Atlantic. Do you think it wouldn't get to repetition and flame wars if people commented about the Great Depression, economic policies to fight the great depression, authoritarianism and rise of Mussolini and Hitler? Or if the topic was the invasion of Ethiopia, the Spanish Civil War or isolationism in the US?
Yet the average salary in the US is half of that, if not a bit less. And for those inflation will be an issue. Stagflation? How much?The president’s proposals for tax cuts include no taxes on tips, no taxes on social security, no taxes on overtime, and more recently, no tax for anybody who makes less than $150,000 a year. — NOS4A2
Maybe, but I'm not seeing how you would avoid a recession here. Trump of course can make quick turnarounds and people are OK with that. But otherwise what I'm anticipating is just a huge trade war.If history is any indication, very little of this will be occurring soon, but maybe Trump can set the ball rolling. — NOS4A2
I hope that. And here Trump could perhaps do a real turnaround. But how cool heads prevail, we'll see in the following weeks and months.It would be ironic if protectionism ends protectionism, on both sides of the border, but this is the best outcome in my view. Let’s hope cooler heads prevail. — NOS4A2
Wasn't it the longest thread in PF or is there a thread longer? Over 24 200 replies and over 800 pages... and it wasn't the first Trump thread, only a common Trump-thread put together in 2018.This thread is intended as a fresh starting point for substantive, evidence-based discussion on Donald Trump, - Here, we aim for clarity, rigour and engagement grounded in fact. — Benkei
(The Guardian) Moscow has described the latest US peace proposals as unacceptable to the Kremlin, highlighting the limited progress Donald Trump has made on his promise to end the war in Ukraine since taking office in January.
Sergei Ryabkov, a foreign policy adviser to Vladimir Putin, said some of Russia’s key demands were not being addressed by the US proposals to end the war, in comments that marked a rare acknowledgment from the Russian side that talks with the US over Ukraine had stalled in recent weeks.
“We take the models and solutions proposed by the Americans very seriously, but we can’t accept it all in its current form,” Ryabkov was quoted by state media as telling the Russian magazine International Affairs.
Then we could have a conversation of the Bush policies and the response after 9/11. The 2003 invasion of Iraq is quite different from Korea and even from Vietnam, or the retaking of Kuwait from Saddam Hussein.Every time I point out what kind of an awful country the United States is, people look for ways to twist the facts so they don't have to acknowledge its long list of transgressions. — Tzeentch
Is that really so?Pol Pot's power grab, which the US then supported in full knowledge of what Pol Pot was about. — Tzeentch
During the 1970–1975 war, the United States provided $1.18 billion in military assistance to the Khmer National Armed Forces in their fight against the Khmer Rouge
Wow. Even handing out money didn't work. Which is totally disgusting and I'm really happy of the outcome.The Trump/Musk backed judge in Wisconsin lost. First real test of voter sentiment. — Mikie
What do you think?Is climate change a political "hot potato" which has bias around it? — Agree-to-Disagree
I know something about the history in South East Asia. Do you?So again, you just have no idea? — Tzeentch
A WikiLeaks dump of 500,000 U.S. diplomatic cables from 1978 shows that the administration of President Jimmy Carter was torn between revulsion at the atrocities of the Khmer Rouge and concern with the possibility of growing Vietnamese influence should the Khmer Rouge collapse.
Mao.Pol Pot was possibly even worse, and guess who he was funded by? — Tzeentch
Pol Pot and the Khmer Rouge were supported for many years by the Chinese Communist Party (CCP) and its chairman, Mao Zedong; it is estimated that at least 90% of the foreign aid which the Khmer Rouge received came from China, including at least US$1 billion in interest-free economic and military aid in 1975 alone.
Well, there is the policies the US has done in the Middle East, in Central America and so on. Indeed much criticism there, which I've said myself. US Middle Eastern policy has been a giant horrible train wreck. In Latin America, the history is quite ugly also.The US is exceptional. So exceptional in fact, that they get to commit a little genocide every now and then. Just a little. Or a lot. — Tzeentch
There are also a lot of incorrect "facts", misinformation, disinformation, etc. How do you know that your experience of reality is correct and complete? — Agree-to-Disagree
That's good to hear.and shouldn't be seen as a moderator comment. — Benkei
Especially when it's something that they actually did do well, which helped the World. Because they do hear about the things they did do wrong.It's always the Americans that have no clue about what their own country gets up to. — Tzeentch
Very well, if you insist. Even if it's April fools day.ssu can you please stop discussing with an idiot? I've counted 15 performative contradictions in his last two posts. There isn't even an argument there and you're engaging him substantively as if there is. — Benkei
Dugin's attitudes show the closeness of the ideas to the alt-right and Bannon.Ough. The imperialism is hard to miss. Since Dugin's latest book is about Trump's second presidency, he must be a quick writer. — jorndoe
Who is going to be hurt with the ripping of the band-aid is here the real question.The US is ripping off the band-aid, so to speak, that covered the other war-torn parts of the world after their injury from that global war. It would've been nice if it could have been done more gradually, but I believe doing it gradually would have been negotiated into doing the least amount to keep everyone happy. — alleybear
I've read about this. Canada has to really think a lot over when suddenly there's an actual border where there hasn't been an actual one earlier. And then truly look at other trade relations with other countries.For example politicians here are forced to discuss eliminating “interprovincial” trade barriers in Canada. — NOS4A2
This is why I've said that talking about the 51st State and referring to the prime minister as "governor" is far more dangerous that it at first seems. Questioning the sovereignty of a nation state is like summoning up the devil. You either have extremely dark intentions, or you simply don't know what you are doing. Coming from an "expendable" country, we take these issues dead seriously.But the rhetoric from the state-funded news and its dutiful followers has turned alarmingly nationalistic and anti-American, with pundits discussing bullshit like guerrilla warfare or joining the EU. — NOS4A2
If it would be so, then you could compete with other manufacturers around the globe. But there's a scary alternative that can happen: once imports decrease, there is ample demand for the current manufacturers just to keep things as they are and not invest in tech. If American manufacturers aren't competing with the outside World, why would they have to extensively invest in technology and focus on competitiveness?Since most American manufacturing will be automated, American robot manufacturing will take off, and the network of homegrown stuff will continue to grow in a self reinforcing way. — frank
What's being undone is Globalization. And in World history when globalization has decreased, bad things have happened.What's being undone here is neo-liberalism. — frank
And how professional and able you think Donald Trump will be in capitalizing on the opportunities a trade war against basically everybody? You think there's going to be these advantages?It has to be said that the British Republican party was exceptionally inept at implementing Brexit and capitalizing on opportunities it created. — ChatteringMonkey
And this is the real problem with authoritarian regimes: once in power, they can easily implement to utterly crazy policies simply because they can, which their supporters when electing them didn't at all anticipate. Trump's insistence on annexing Greenland and Canada are on the less serious side on this, because there simply isn't any support for this even in the US. These (hopefully) just stay on the level of Trump's and his administration talking points in the similar way that purchasing Greenland was in the first Trump administration.Yes, that's been quite troubling for sure. That spells out something far beyond any domestic issues that are present, as far as i can see. — AmadeusD
Just look at Brexit and the thread that we have here on PF. Now basically the last thing that the Brexiteers, who were so enthusiastic about Brexit, emphasize that the "will of the people" in the vote should be respected. And that's it. Nobody is trying to argue about green chutes or the benefits that Brexit has given to them. Yet for many years until Labor took over, they were anticipating the benefits of Brexit to be just around the corner.In the overall it will probably hurt the US economy, in the short term at least. The long term is hard to say really. But yes, I'm also sceptical that you can just un-globalise from a world-economy because of supply-chains being so international and markets becoming smaller. — ChatteringMonkey