Has any MAGA trade "theorist" yet exhibited an understanding of the Triffin Dilemma? https://en.wikipedia.org/wiki/Triffin_dilemma …
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... This certainly doesn't:https://usa.spectator.co.uk/2018/06/if-this-is-a-trade-war-the-united-states-will-win/ …
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Replying to @Outsideness
Austrian economics is outside the Overton window. On the inside, you get to choose between louse-infested madness, and scratching-your-own-skin-off madness.
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Replying to @Alrenous @Outsideness
Trade deficits are good, not bad, and getting 'favourable' export conditions is painfully retarded. Sure you can, temporarily, by creating forex shocks. Otherwise the price will equilibrate with the value.
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Replying to @Alrenous @Outsideness
Etc etc...America sees great benefits from being the reserve currency printer. And ending is is an existential threat. If it ends, they will feel like they're dying at best, Make the 30s look like a bit of a sniffle.
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Replying to @Alrenous @Outsideness
...which incidentally is why you don't want to see the benefits of being the world reserve currency.
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Replying to @Alrenous @Outsideness
E.g. if the world no longer needs USD, then demand for USD can be approximated as entirely in America. Supply includes all these old foreign reserves. America will see this as a hyperinflation shock.
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Good take. An international reserve (fiat) currency temporarily stores domestic hyperinflation in overseas stockpiles of its government paper.
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Replying to @Outsideness
Indeed. USG inflates away the demand-mediated deflation, thus reserve status has funded a lot of socialism.
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