Moon of Alabama Brecht quote
August 24, 2019

U.S. Decoupling From China Forces Others To Decouple From U.S.

The U.S. is decoupling itself from China. The effects of that process hurt all global economies. To avoid damage other countries have no choice but to decouple themselves from the U.S.

Today's Washington Post front page leads with a highly misleading headline:

The headline above the article is also wrong:

Trump retaliates in trade war by escalating tariffs on Chinese imports and demanding companies cut ties with China

It was China, not Trump, which retaliated. Trump reacted to that with a tweet-storm and by intensifying the trade war he started. The piece under the misleading headline even says that:

President Trump demanded U.S. companies stop doing business with China and announced he would raise the rate of tariffs on Beijing Friday, capping one of the most extraordinary days in the long-running U.S.-China trade war.
...
The day began with Beijing’s announcement that it would impose new tariffs on $75 billion in goods, including reinstated levies on auto products, starting this fall. It came to a close Friday afternoon with Trump tweeting that he would raise the rate of existing and planned tariffs on China by 5 percentage points.

Beijing’s tariff retaliation was delivered with strategic timing, hours before an important address by Powell, and as Trump prepared to depart for the G-7 meeting in Biarritz.

After Trump's move the stock markets had a sad. Trade wars are, at least in the short term, bad for commerce. The U.S. and the global economy are still teetering along, but will soon be in recession.

The Trump administration is fine with that. (As is Dilbert creator Scott Adams (vid).)

U.S. grand strategy is to prevent other powers from becoming equals to itself or to even surpass it. China, with a population four times larger than the U.S., is the country ready to do just that. It has already built itself into an economic powerhouse and it is also steadily increasing its military might.

China is thus a U.S. 'enemy' even though Trump avoided, until yesterday, to use that term.

Over the last 20+ years the U.S. has imported more and more goods from China and elsewhere and has diminished its own manufacturing capabilities. It is difficult to wage war against another country when one depends on that country's production capacities. The U.S. must first decouple itself from China before it can launch the real war. Trump's trade war with China is intended to achieve that. As Peter Lee wrote when the trade negotiations with China failed:

The decoupling strategy of the US China hawks is proceeding as planned. And economic pain is a feature, not a bug.
...
Failure of trade negotiations was pretty much baked in, thanks to [Trump's trade negotiator] Lightizer's maximalist demands.

And that was fine with the China hawks.

Because their ultimate goal was to decouple the US & PRC economies, weaken the PRC, and make it more vulnerable to domestic destabilization and global rollback.

If decoupling shaved a few points off global GDP, hurt American businesses, or pushed the world into recession, well that's the price o' freedom.

Or at least the cost of IndoPACOM being able to win the d*ck measuring contest in East Asia, which is what this is really all about.

Trump does not want a new trade deal with China. He wants to decouple the U.S. economy from the future enemy. Trade wars tend to hurt all involved economies. While the decoupling process is ongoing the U.S. will likely suffer a recession.

Trump is afraid that a downturn in the U.S. could lower his re-election chances. That is why he wants to use the Federal Reserve Bank to douse the economy with more money without regard for the long term consequences. That is the reason why the first part of his tweet storm yesterday was directed at Fed chief Jay Powell:

In his order for U.S. companies to withdraw from China, some close to the administration saw the president embracing the calls for an economic decoupling made by the hawks inside his administration.

The evidence of the shift may have been most apparent in a 14-word tweet in which Trump appeared to call Xi an “enemy.”

“My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?” he said in a Tweet posted after Powell gave a speech in Jackson Hole that contained implicit criticism of Trump’s trade policies and their impact on the U.S. and global economies.

Jay Powell does not want to lower the Fed interest rate. He does not want to increase bond buying, i.e. quantitative easing. Interest rates are already too low and to further decrease them has its own danger. The last time the Fed ran a too-low interest rate policy it caused the 2008 crash and a global depression.

Expect Trump to fire Powell should he not be willing to follow his command. The U.S. will push up its markets no matter what.

From Powell's perspective there is an additional danger in lowering U.S. interest rates. When the U.S. runs insane economic and monetary policies U.S. allies will also want decouple themselves - not from China but from the U.S. The 2008 experience demonstrated that the U.S. dollar as the global reserve and main trade currency is dangerous for all who use it. Currently any hiccup in the U.S. economy leads to large scale recessions elsewhere.

That is why even long term U.S. ally Britain warns of such danger and is looking for a way out:

Bank of England Governor Mark Carney took aim at the U.S. dollar's "destabilising" role in the world economy on Friday and said central banks might need to join together to create their own replacement reserve currency.

The dollar's dominance of the global financial system increased the risks of a liquidity trap of ultra-low interest rates and weak growth, Carney told central bankers from around the world gathered in Jackson Hole, Wyoming, in the United States.
...
Carney warned that very low equilibrium interest rates had in the past coincided with wars, financial crises and abrupt changes in the banking system.
...
China's yuan represented the most likely candidate to become a reserve currency to match the dollar, but it still had a long way to go before it was ready.

The best solution would be a diversified multi-polar financial system, something that could be provided by technology, Carney said.

Carney speaks of a "new Synthetic Hegemonic Currency (SHC)" which, in a purely electronic form, could be created by a contract between the central banks of most or all countries. It would replace the dollar as the main trade currency and lower the risk for other economies to get infected by U.S. sicknesses (and manipulations).

Carney did not elaborate further but it is an interesting concept. The devil will be, as always, in the details. Will one be able to pay one's taxes in that currency? How will the value of each sovereign currency in relation to SHC be determined?

That the U.S. dollar is used as a global reserve currency under the Bretton Woods system is, in the words of the former French Minister of Finance Valéry Giscard d'Estaing, an "exorbitant privilege". If it wants to keep that privilege it will have to go back to sane economic and monetary policies. Otherwise the global economy will have no choice but to decouple from it.

Posted by b on August 24, 2019 at 19:22 UTC | Permalink

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Uh-oh....
GF is a spin-off of canadian ATi & american AMD alegedly funded by saudi or some other gulfies.

https://www.tomshardware.com/news/globalfoundries-files-patent-lawsuits-tsmc,40240.html

..........The list of companies supplied by TSMC includes AMD, Nvidia, Apple, Mediatek and many others, which means that GlobalFoundries could bring the tech industry to a halt if it's allowed to stop imports to the U.S. and Germany.

The lawsuits were filed with the U.S. International Trade Commission, the U.S. Federal District Courts in the Districts of Delaware and the Western District of Texas and, in Germany, the Regional Courts of Dusseldorf and Mannheim. GlobalFoundries leaned hard on TSMC being headquartered in Taiwan in its announcement, effectively portraying the dispute as an Eastern company profiting off the innovations of its Western competitor.

Posted by: Arioch | Aug 26 2019 15:35 utc | 201

@karlof1 #178
Dilbert is a comics strip, and Scott Adams is an entertainer.
He had some interesting ideas during the Trump campaign, but ultimately anyone whose primary skill is entertainment, should not be taken seriously on anything else outside of entertainment.
Much like actors campaigning for political issues or what not.
The worst example I've seen is Bill Nye: a mechanical engineer who is trying really hard to

Posted by: c1ue | Aug 26 2019 16:15 utc | 202

con't from above
be an expert on climate change - a field which involves physics, fluid dynamics and what not, and whose primary claim to fame isn't even practicing his training. He's a children's show star.

Posted by: c1ue | Aug 26 2019 16:16 utc | 203

China's GDP-PPP is already 25% bigger than that of U.S.A. China actually passed U.S as world's biggest economy in 2013. The gap is growing average 2-3% annually.

Posted by: Travis | Aug 26 2019 17:54 utc | 204


Decoupling from the USD is tantamount to decoupling from oxygen because the air quality is substandard. Seventy years of dollarization has put us all on a drunken boat. The world is now that boat. So how do we debark without getting blown up or putting a foot into the void? Because the gangplank is wired with explosives. So I share the anxiety. However I also see the contours of an oblique escape route that has a hundred reasons to fail.

“Today's Washington Post front page leads with a highly misleading headline”

Since when have neo-liberal fountainheads the WaPo or the NYT carried water for a Trump narrative? This would be a marked departure. Is that what’s being implied here? I’m suspicious already.

“It was China, not Trump, which retaliated. Trump reacted to that with a tweet-storm and by intensifying the trade war he started.”

No one from the beholden American political class would have picked this fight as they initiate nothing. Yes, Trump started it alright. Economic populism ONLY runs contrary to the interests of the Dem Party, Republican RINOs, the US Chamber of Commerce, I’ll borrow the Conservative Treehouse’s recent list: “The EU, Asia, World Bank, International Monetary Fund, China, Russia, U.S. Chamber of Commerce, Iran, U.S. Congress, Wall Street, the Big Club, Lobbyists, Hollywood, Corporate Media (foreign and domestic), and the ankle-biters in Never Trump.”

What vested power interest the world over DOESN’T feel antagonized by Trump?

I reject the histrionic language of trade war. It fans needless flames. If we dial back the language, this is, one level at least, a vendor-supplier dispute. Consider how ludicrous this 'trade war' -and the ensuing rhetoric (thank you, media flame-fanners)- has been from the get-go:
Walmart announces it 'will not cave' to the demands of its single-largest customer. (Customer also happens to be the largest manufacturer of paper products which Walmart insists on purchasing from an alternate supplier.)

Customer says 'No sweat. I'll shop at Target'

Walmart: 'this is war!'

I dunno. Assailing the most developed demand market in the world (when you yourself have not traversed the middle income trap), seems the height of CCP hubris --or tin-earedness. Deng turns over in his little grave. Who is this Xi, this bull in a china shop? What a grave misreading of relative strength and propitiousness.

“Trump does not want a new trade deal with China. He wants to decouple the U.S. economy from the future enemy. Trade wars tend to hurt all involved economies. While the decoupling process is ongoing the U.S. will likely suffer a recession.”

Of course there is a hegemonic subtext woven into the trade dispute. Where does realpolitik power retention end and ‘mere trade’ begin? That’s a fascinating question. The demarcation is undoubtedly blurred. Maybe they’re indifferentiable. However this is an asymmetric trade dispute. Trump doesn’t need a deal. China does.

"Trump is afraid that a downturn in the U.S. could lower his re-election chances. That is why he wants to use the Federal Reserve Bank to douse the economy with more money without regard for the long term consequences. That is the reason why the first part of his tweet storm yesterday was directed at Fed chief Jay Powell"

There is $15 trillion of negative interest govt bonds sloshing around the world today. So the US is to be held to the gentlemen standard of positive rates and not seek free money like everyone else? We can’t disparage the hegemon on one hand while insisting it behave with hegemonic Big Brotherhood on the other. You can't give credit away. It's like the world has given up on productive outlets. Things have become so apathetic that no one even cares about discovering prices anymore. A blizzard of dollars will do that to you.

“Jay Powell does not want to lower the Fed interest rate. He does not want to increase bond buying, i.e. quantitative easing. Interest rates are already too low and to further decrease them has its own danger. The last time the Fed ran a too-low interest rate policy it caused the 2008 crash and a global depression.”

Powell wants to retain in his holster at least 200 basis points of nominal discount rate so that he can cut rates into a recession. It’s about as high-falutingly econometric as all that. At the zero-bound, you can’t even LOOK like you’re doing something. Today’s Central Banking is all about keeping up appearances with feigned responses. At 0% the Emperor runs out of clothes and excuses.

“From Powell's perspective there is an additional danger in lowering U.S. interest rates. When the U.S. runs insane economic and monetary policies U.S. allies will also want decouple themselves - not from China but from the U.S.”

This was written before the bilateral Japanese and British trade deals with the US. Merkel's in there now trying to hash out a deal. I don’t think we’re looking at everyone piling into the Chinese sphere of influence. Maybe a bipolar world order at best –Anglo-Saxon coarseness vs. (a slowed, but still inevitable) Eurasian Century complete with social credit dystopianism. We peeps are always left with the most delectable choices! But if the markets today are any judge (carnage in Asia, Dow up 200 pts), the unipolar order is being prematurely eulogized. Imminent decoupling is more wishful than analytical. Wishful analysis is an oxymoron. Bad bad hegemon. Where’s the natural law that states an aging sclerotic empire is obliged to stand aside for an ascendant power? The former is obliged to run interference while the latter must strive for the brass ring. That's the Darwinian way.

“U.S. grand strategy is to prevent other powers from becoming equals to itself or to even surpass it.”

Again, as opposed to which prior empire which gallantly stood aside for its usurper?

“The dollar's dominance of the global financial system increased the risks of a liquidity trap of ultra-low interest rates and weak growth, Carney told central bankers from around the world gathered in Jackson Hole, Wyoming, in the United States.”

I’d say the world’s suffering two major dislocations: the Triffin Paradox (which continues to fuel the MIC) and the 1999 China WTO entry which unleashed a tsunami of global deflation without insisting on a co-terminously emergent sponge of Chinese domestic demand. For that historic ‘oversight’, the Clintons were handsomely compensated.

“The best solution would be a diversified multi-polar financial system, something that could be provided by technology, Carney said.”

Keynes argued passionately for the bancor. He saw the imbalances looming ahead. He was outflanked. The dual and and paradoxical role of national currency and international reserve currency cannot be repeated. That’s assuming we survive the military beast minted by the prevailing dislocations.

“That the U.S. dollar is used as a global reserve currency under the Bretton Woods system is, in the words of the former French Minister of Finance Valéry Giscard d'Estaing, an "exorbitant privilege".

It’s an exorbitant pox on all decent parties which has served to hollow out Middle America, bankroll (via petrodollar recycling) the MIC, enrich the bankers at the expense of the productive economy, steal the world’s prosperity, launch the Latin American debt crisis. Only the NY and London bankers won. Okay, and a few Arab sheiks. as a useful dupe. The so-called Arab Oil Embargo was launched by Kissinger et al to subjugate production to financialization evermore. Everybody’s oil bill went up 300% overnight.

In its own circuitous way Trumponomics is working first through trade normalization (which inevitably will erase structural deficits, which inevitably will unseat USD reserve currency status, which inevitably will defund the MIC). The real danger lies in the short term when the MIC decides it must shoot before it loses the loot. Thus we’re in a precarious period of defusement. Has anyone else notice Trump’s failure to press any triggers? He wanted to bring the troops back from Afghanistan & Syria and was REBUKED by bipartisan Senate vote of 68-23. Trump has no stomach for war. He’s a golf course builder with bone spurs for crying out loud.

He doesn’t run the MIC. That’s above his pay grade. He’s only a POTUS after all. He needs to stay alive to implement his concentric approach. Trump is strapped to the fuselage of an in-air missile. Dr. Strangelove comes to mind. But he’s gingerly trying to defuse it while he’s riding it. Any false moves and his own team will shoot him out of the sky. So he’s defusing it obliquely. By robbing it of its funding mechanism (i.e. via normalization of trade disparities). My 'pinion only.-FSD

Posted by: FSD | Aug 26 2019 18:00 utc | 205

@ Posted by: donkeytale | Aug 26 2019 2:49 utc | 182

It seems to me it's mainly a problem of definition of terminology: commenters from the First World generally have a very idealist view of how the real world works.

Take the definition of "socialism", for example. China officially defines itself as "market socialist with Chinese characteristics". There is sufficient evidence to state this definition is very precise if we are to take how the other countries define themselves.

But some commenters here simply don't accept that fact. They have a closed definition of socialism in their heads and, if reality doesn't fit in it, then it is necessarily false. I see that, for the First Worlders here, if you're not classic Soviet socialism, you're not socialist at all and China is lying (some go even to the point to accuse China of being a closeted "Keynesian State"). I'm all for hypotheses -- but there comes a time you have to prove them: just claiming it is your opinion and that you have the divine right to have an opinion is simply not enough in the real world.

So, forgive me for following the evidence. Reality doesn't have the obligation to fit in your ideology; it doesn't have the obligation to be simple.

Posted by: vk | Aug 26 2019 18:39 utc | 206

denk @200 queried: "how could a Huawei network in Nepal pose a 'security threat' to the [[[five liars]]]"?

Because the cannot easily access Huawei networks.

It isn't full spectrum domination if they cannot dominate parts of the spectrum.

Posted by: William Gruff | Aug 26 2019 21:49 utc | 207

vk @206 pointed out: "commenters from the First World generally have a very idealist view of how the real world works."

That is just a polite way of saying that they are delusional.

Posted by: William Gruff | Aug 26 2019 21:55 utc | 208

The reason commenters don't accept that fact is there is scant evidence beyond spoken words that much of anything about China's economy fits the definition of socialism.

For instance, income taxes in China are a regressive VAT. Socialist countries by defintion have high, progressive income tax rates to redistribute income more equitably but in China:

Unemployment compensation is rarely approved for the jobless.

The Gini co-efficient is 50 indicating the existence of vast wealth inequality on a scal greater than even the US and far greater than "socialist" western European nations.

I know you will "tell me" this is wrong, western propaganda, etc.

Ok fair enough if you show me hard data indicating otherwise then I will believe you.

Posted by: donkeytale | Aug 26 2019 22:46 utc | 209

Debunking Israeli claims on that their drones were doing reconnaissance work or experimetal flight and not intending an attack on the Dahiyeh suburb, Hezbollah: Both Drones Which Targeted Dahiyeh Were on Suicide Mission.

Posted by: Sasha | Aug 26 2019 22:46 utc | 210

Posted by: William Gruff | Aug 25 2019 13:54 utc | 135
"...but how long will it take for The Market™ (hallowed be Its name) to recognize those tattoo-sleeved, nose-ringed, mountain-panda-gendered, narcissistically identity-fixated former "baristas" as a valuable industrial labor resource to exploit?"
"A metaphor: The American economy is like a morbidly obese individual on the gurney in the Intensive Care Unit, plugged into numerous external support devices to keep its body from decomposing. Trump expects that body to leap off the gurney and run (and win!) a marathon."

These two gems had me in stitches. Thank you, William Gruff. Your often biting, bitter doses of reality, acerbically injected into the conversations here, are more palatable when spiced with such comical imagery.

Posted by: Activist Potato | Aug 26 2019 22:52 utc | 211

FSD, what are your estimates for the world in 2050 and 2100? Relative power status of the important countries, demographics, etc.

I want to have a discussion with you, if you have the time.

Posted by: Passer by | Aug 26 2019 23:21 utc | 212

@ 211
A metaphor: The American economy is like a morbidly obese individual . ..

It isn't only a metaphor: Seventy-one percent of young people are ineligible to join the military, according to 2017 Pentagon data. The reasons: obesity, no high school diploma or a criminal record. The problem isn't just a military one, though: It's an issue for businesses as well because the vast majority of that age group isn't eligible for many jobs either. Older people? Similar problems with too much weight and too little knowledge and also, increasing with age, poor health due to lack of exercise and poor eating habits. On top of these factors the trends are all going in the wrong direction with poisoned food and water, drugs etc.

Posted by: Don Bacon | Aug 26 2019 23:47 utc | 213

The NDI's (National Democratic Institute's) talking mule is wrong, as usual. Link to World Bank stats to prove it.

Note: This is not to engage the mule in discussion but simply to help inoculate other readers against the lies.

Posted by: William Gruff | Aug 27 2019 0:33 utc | 214


Inequality in China - IMF

"China has moved from being a moderately unequal country in 1990 to being one of the most unequal countries. Income inequality in China today, as measured by the Gini coefficient , is among the highest in the world. The Standardized World Income Inequality Database (SWIID) 3 estimates the Net Gini coefficient for China at 50 points as of 2013, which is above various regional averages and among the highest in Asia (see figure 1). The official estimate by the National Bureau of Statistics (NBS) assessed it slightly lower at 47.3 Gini points.Furthermore, the Gini coefficient has rapidly increased over the last two decades, by a total of about 15 Gini points since 1990 (see figure 2). A combination of national sources suggests a similar increase of about 12 ½ points. Given that income inequality, and especially the Gini measure tend to be very persistent over time, this is a considerable rise"

https://www.imf.org/~/media/Files/Publications/WP/2018/wp18127.ashx


Income inequality in today’s China

"We document a rapid increase in income inequality in China’s recent past, capitalizing on newly available survey data collected by several Chinese university survey organizations. By now, China’s income inequality not only surpasses that of the United States by a large margin but also ranks among the highest in the world, especially in comparison with countries with comparable or higher standards of living. We argue that China’s current high income inequality is significantly driven by structural factors attributable to the Chinese political system, the main structural determinants being the rural-urban divide and the regional variation in economic well-being."

https://www.pnas.org/content/111/19/6928

Posted by: O | Aug 27 2019 1:19 utc | 215

O

Working on misaligned data sets (China from 2015 and US from 2016), looking 4 years back to justify current circumstances, it speaks for itself. Gruff is a master debater not an economics genius. He states economics is a pseudo science which is code for he's doesn't understand.

VK makes coherent arguments at several points. I'm open to the possibility China's ruling party socialises the economy not just the party handbook.

Guff is a googler. He's just trolling for the sake of purity or because he can't censor he wants some ideas to be automatically discredited. Whatever, who cares?

The point is the conspiracy is class based. Guff and I are on the same side whether he likes it or not unless he's a fascist ennabler tool which I don't think he is.

Posted by: donkeytale | Aug 27 2019 2:33 utc | 216

One thing we know full well from USA experience since 2008, when you pump unnecessary liquidity into the markets the rich get richer and the poor get poorer. This holds true even in an expansion when the poor see gains across the board and lift themselves out of poverty. If you as my countryman sees your income grow 15% while mine grows 5% I'm growing poorer relative to you.

This is not the Theory of Relativity...but it is actually.

Posted by: donkeytale | Aug 27 2019 3:06 utc | 217

Posted by: donkeytale | Aug 27 2019 3:06 utc | 218

"This is not the Theory of Relativity...but it is actually."

It is certainly an apt comment on entropic decay [E = mc(squared)].

Posted by: Anacharsis | Aug 27 2019 3:23 utc | 218

The ignorance displayed on this thread is astounding

To the claim that the US is totally a capitalist country

The interstate highway system is socialism
The TVA, BPA and where I grew up, Tacoma Power, as I am sure there are others like it are socialism
Most if not all of the local sewage treatment systems, water systems, police, fire are socialism
The Social Security Insurance program is socialism
All local governments are socialism
The USPS is socialism

Here we are at over 200 comments and folks can't seem to express comments about socio-economic reality accurately

How about having a discussion about what a good mixed economy would look like in the West. I have read but don't have a link that says China has an economy that is 80% private and 20% public and yet all here seem to say it is socialism only.

I think banking/finance should be public
I think health care should be public
I think education should be public

Posted by: psychohistorian | Aug 27 2019 3:35 utc | 219

Anacharsis

There is always leakage in human terms.

We move to slowly to keep up until we stop moving at all.

Posted by: donkeytale | Aug 27 2019 3:41 utc | 220

donkeytale

And we are particles indicative of a material (mass-energy) cosmos which is doing the same.

Posted by: Anacharsis | Aug 27 2019 3:53 utc | 221

William Gruff 207

Hmmm...

The same reason [[[they]]] pressure
Solomon Island to renege on a Huawei
undersea cable contract, award it
to an Aussie firm instead !

Full spectrum dominance,..
All your world are belong to us !

heheh

Posted by: denk | Aug 27 2019 4:49 utc | 222

Anacharsis 225

During the cold war era,
This how fukus lampoon USSR Afghan war,
The only safe border for USSR is
one where both sides are manned by the red army

Now we've the new world order doctrine...
The only safe world for the USSA is one where every border is guarded by the US marines, every sea lane is prowled by the USN and every air corridor is patrolled by the USAF

HEHHEHE

Posted by: denk | Aug 27 2019 5:17 utc | 223

@donkeytale #217
A 5% income growth by the 99% vs. a 15% income growth by the 1% would be a net absolute gain for the 99%.
The problem is that the absolute gain for the 1% has exceeded the net absolute gain of the 99% for the past 20+ years.
Again, most people don't care if a few get really rich - so long as they have reasonably equal opportunity and are themselves getting better off (and their children).
That isn't the case in the US or Europe.

Posted by: c1ue | Aug 27 2019 21:00 utc | 224

Sasha @10
Calling someone a "fascist", a "nazi", a commie", a "racist", a "red" or what have you is meaningless. They have been overused to the point where they are simply swear words and meaningless insults

Posted by: sy | Aug 27 2019 23:16 utc | 225

@psychohistorian #219:

I think banking/finance should be public
I think health care should be public
I think education should be public

Also: roads, police, fire, other emergency services, armed forces, and science publishing.

Posted by: S | Aug 28 2019 1:38 utc | 226

C1ue

Right you are!

Posted by: donkeytale | Aug 28 2019 2:51 utc | 227

I may have been commenting more about China @ 217 now that I reminisce back to yesterday.

But yes. 100% agreement.

Posted by: donkeytale | Aug 28 2019 2:53 utc | 228

vk @ 206

I agree and am guilty as charged.

Your footnoting is much more extensive.

Posted by: donkeytale | Aug 28 2019 3:15 utc | 229

On the subject of "decoupling from China" and "Making America Great Again" I thought that this article, "Resurrecting the American Economy" , by Dmitry Orlov outlines the necessary steps. It amounts to fairly short-term sacrifice for potential (not guaranteed) gain, but nothing compared to the suffering other countries/nations/peoples have been through.

Posted by: ADKC | Aug 29 2019 16:22 utc | 230

i think two points from all of these wonderful comments:
1. one person is making a decision without consultation with and concurrence of, the masses of governed people that, such decisions impact..
2. the leaderships of the human containers called nation states are making decisions and engaging in wars, corruption, and financial mischief in a loop that is operating 100% outside of the view, or knowledge, of the governed who reside within the respective nation state containers. Worse the leaders have allowed or themselves engaged in Gating, Propaganda and Programming specific to each such human nation state container, in such ways as to polarize the people within their respective coral against the people in other human nation state containers so that one set of humans is urged to hate another set of humans so that the unseen controllers can make a bunch of money. Greece has shown us the vicious state of affairs that can come about when leaders are allowed to do as they please.

Hypothesis: The leaders of the nation states are controlled by persons who are invisible to the masses.
If true, it means people are born, live a life, and die without knowing about or understanding why things happened the way they did.
This condition should concern everyone..

Posted by: snake | Aug 29 2019 17:00 utc | 231

@ADKC #230 says: "Resurrecting the American Economy ... It amounts to fairly short-term sacrifice..."

LOL. Cultural revolution in America, arbitrary arrests and confiscations... blah, blah. And these are going to make America "great"?

Some people has very weird sense of words.

Posted by: d dan | Aug 29 2019 17:03 utc | 232

d dan @232

"LOL. Cultural revolution in America, arbitrary arrests and confiscations... blah, blah. And these are going to make America "great"?"

Isn't that how the "great" USA was created in the first place?

Posted by: ADKC | Sep 3 2019 22:49 utc | 233

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