I am actually in favor of the world finding a competing reserve currency (just NOT Chinese or Russian ruble!). The US$ being the reserve currency means the rest of the world has been SUBSIDIZING the US, by bringing in trillions of dollars to US banks and federal reserve LOWERING US interest rates which also has helped fuel all the bubbles we’ve seen. Having another reserve currency in turn cause interest rates to return to their natural levels bringing down ASSET values (i.e. housing) to more affordable levels.

This is his buddies Putin and Xi!

Now I see what MAGA stands for. Make America (a) Great Asshole.

US economy has been running on bubbles for decades, and using bubbles to fuel innovation and growth. It has survived telecom bubble, housing bubble, bubble in the oil sector for multiple times (how do you think fracking came to be?) etc. This is just the start of the AI bubble because its innovations have yet to have a broad-based impact on the economy. Once AI becomes commonplace in aiding in everything we do, that’s when valuations will look “normal”.

Oh US has been doing this kind of thing for decades! This isn’t new.