Is that the smell of someone being cooked?

  • imeansurewhynot@sh.itjust.works
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    1 month ago

    Also federally defunded generations of scientists so that other countries will benefit from their expertise, ensuring that other global powers will be leading the charge and reaping the rewards of new, lucrative technologies.

    Lot more money and power going byebye for a lot longer than just the current ledger.

    • REDACTED@infosec.pub
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      1 month ago

      I’m actually terrified of this. With all it’s flaws and even evilness - I/we can’t ignore the fact that it was keeping other major powers in check. China would far more likely invade Taiwan and likely whatever else they want, I’m in Baltics so… Russia won’t be so scared to attack it. Shipping lanes and global transportation of goods will no longer be protected by US (where credit is due, they really cared about it, up until Trump), other powers like Pakistan, Turkey and Venezuela might get funny ideas, etc.

      Ironically, world without US would look less secure to me

      • Viceversa@lemmy.world
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        1 month ago

        Ironically, world without US would look less secure to me

        On the other hand, the world wouldn’t have wars and coups, caused by the USA.

        • REDACTED@infosec.pub
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          1 month ago

          Do you honestly believe there would be less wars overall without US? Actually think about this

            • REDACTED@infosec.pub
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              1 month ago

              Really? Venezuela was looking to invade Guyana before US snatched Maduro. There have been no real open wars with US and South excluding ones that can now be considered historical (Ie. Mexico-US war). Panama was quite small.

      • Comet79@lemmy.world
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        1 month ago

        I’ve read before that the US couldn’t realistically defend the Baltics from a ground invasion due to distance. It could only re-capture it afterwards. Your best bet is a strong Europe (Germany, Poland) that can actually provide assistance if Russia decides to invade the Baltics.

        Yes, the world without the US would create a massive power gap and instantly cause multiple wars everywhere. Also I don’t know of a country who has the geographical characteristics and the will to pick up US naval protection. The US is kind of unique in that aspect. China doesn’t want to do it, and their geography limits them to a degree. I’m worried about the Pakistan-India-Chinese feuds as these countries kind of hate each other and have nuclear weapons.

        With that being said, it’s very unlikely that the country will explode due to its debt issues. It will definitely hurt the average person’s well being with higher interest rates and inflation, though.

  • MrSulu@lemmy.ml
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    1 month ago

    Israel has the US to fund their economy. The US will need a similar sponsor to turn up or fail in the worst possible manner (if it isn’t already too late).

  • amniote@lemmy.world
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    1 month ago

    On federal level the deficit is actually the sum of wealth the US gov injects/ed into its economy. There is no such thing as ‘my taxdollar’ on fed level. The gov proposes policy, congress ok’s it and FedRes pays the bills. Through creation of new money from the 12 magic computers Elon discovered during his doge tenure.

    Not so on state level: states have no monopoly over a currency and have to hold up their own pants or go bankrupt. ‘My taxdollar’ absolutely applies on state level.

    Source: MMT/Sectoral Balances