My god, even the best chance for socialism is hopeless because of the dollar. “it’s not doomer because the party could do something different” idgaf day after day it’s more dollars and less long term hope. Nothing China does can matter because all the green energy, all the bnr, all the poverty elimination, all of it is paid for with imperial currency and little to no interest in changing this arrangement from within. The party will talk about win-win arrangements and mutually-beneficial cooperation until the fucking nukes are flying.
When you put that much effort, repeatedly, over the course of months, to make this particular financial point, I’m going to take it seriously. The future is affected by the restrictions of the present, but thanks for the hopium
it’s funny because the reason I wrote that was more that I was afraid of people getting scammed into buying gold/crypto/whatever grift that is being peddled right now. I was more concerned about people losing money because of how easy one can fall prey to internet narrative, than whether China or US is gonna win the financial war (well, it is of grave concern, of course, but strangely not the immediate reason for me trying debunk misinformation)
Have you seen the bitcoin price? It’s approaching 100k now. A lot of people are going to lose their money over that.
Ironically, i put some of my retirement savings into a gold fund a couple years ago, and it did way better than the various US industry positions I had
Disclaimer: not financial advice.
Yes, that’s because the US hasn’t gone through a recession yet. The question is, do you think the US economy is resilient enough to prevent a recession in the near future, over the next 5-10 years? What do you think is going to happen to the gold price when the US goes into recession?
Just something for you to think about.
Oh I know, I always feel conflicted between keeping money invested to overcome inflation, vs taking it out because there's no way everything's not about to crash, right?
In the end, I just constantly resent the fact that the neoliberals have forced our retirements to be tied up in stock market bullshit.