“The US dollar became relevant… because it allowed goods and services to be exchanged globally.”
Wrong. Any currency could enable that (look back at Spanish doubloons) the US dollar filled that niche more recently because coming out of ww2 the us had a relatively untouched territory and a monster of an economy that the rest of the west couldn’t provide otherwise. The US filled an economic vacuum by virtue of good fortune. They then acted over the next century to capitalize on that situation. There’s was nothing special about the dollar that made this a unique achievement.
Oil was sold in OPEC dollars because at the time we made them, not because the dollar was unique or anything compared to all other currencies.
“However as I have predicted debt…”
Again wrong and gonna stop you right there chief. Debt existed well before this issue and other counties will continue to encourage specific levels of debt well after this issue frankly because you again wrong and there’s a much better understanding of economics than what your spouting.
The US isn’t in this position because of the existence of debt they are in this position because of reckless actors (almost always in the GOP) spending a trillion on Iraq, or taking up the mercantilist perspective of a thalidomide baby writ large.
This is the by product of people who don’t understand interwoven economics, don’t add to that ignorance and blame it going in to debt while ignoring that the us debt has existed far longer than any of these issues.
[heavy sigh]
That’s just not true, none of it.
“The US dollar became relevant… because it allowed goods and services to be exchanged globally.”
Wrong. Any currency could enable that (look back at Spanish doubloons) the US dollar filled that niche more recently because coming out of ww2 the us had a relatively untouched territory and a monster of an economy that the rest of the west couldn’t provide otherwise. The US filled an economic vacuum by virtue of good fortune. They then acted over the next century to capitalize on that situation. There’s was nothing special about the dollar that made this a unique achievement.
Oil was sold in OPEC dollars because at the time we made them, not because the dollar was unique or anything compared to all other currencies.
“However as I have predicted debt…”
Again wrong and gonna stop you right there chief. Debt existed well before this issue and other counties will continue to encourage specific levels of debt well after this issue frankly because you again wrong and there’s a much better understanding of economics than what your spouting.
The US isn’t in this position because of the existence of debt they are in this position because of reckless actors (almost always in the GOP) spending a trillion on Iraq, or taking up the mercantilist perspective of a thalidomide baby writ large.
This is the by product of people who don’t understand interwoven economics, don’t add to that ignorance and blame it going in to debt while ignoring that the us debt has existed far longer than any of these issues.