Bricks? We don't need no stinking Bricks?
but an international payments clearing system not based in Washington...
… is not a bad idea.
Shucks! I almost got embarrassed for myself gushing while listening to Prof Yan Liang talking to Pascal. I so badly wanted to sit my daughters down to listen, but alas for their social justice education I’m not an authoritarian Dad.
The great thing is I don’t need to write anything about BRICS. You can get all my opinions in cuter form by checking out her chat with Mr Lottaz.
Episode 1.
Oh, now I know why Harris/Walz fluffed it big time! It’s the Econoimy Stupid, not the Economy! Pffft.
Episode 2. (The BRICs one.)
How do you get this stuff on the top ranks of TikToc? (Without illegal server cracking.)
As she likely explained, it has nothing to do with de-dollarization or competing at the same level but creating a more 'democratic-oriented' (note I didn't say 'democratic') multi-polar world.
To my mind this is more akin to managing the Commons.
I’ve been surprised that the topic of China’s local government financial imperative hasn’t been discussed more explicitly. The chief motivation for China’s housing construction bubble is driven by their imperative for revenue. Development is the only source of revenue they have.
And it is analogous to the forces driving the US housing crisis. The maintenance cost of suburban sprawl appears 25 years after development has occurred. Property taxes do not cover the cost of that infrastructure, municipalities, chiefly subsidize, suburbia by pillaging money from downtown and poor neighborhoods or by sprawl to bring in fresh revenue. The problem for many municipalities is they’ve run out of territory they can sprawl into, and the payload of existing debt only expands, while the economic activity is the spread even more thinly over and expanding or wildly expanded suburban landscape.
It is a chief source of financial insolvency that is endemic to US cities. Outside of organizations like Strongtowns, the endemic financial insolvency of US cities is entirely unreported and remarked on.
But wait kids there’s more! The foxes that will be running the chicken coop in a few months, make good on their decades long desire to force the US into default, destroy the US dollar and the federal government. An alternative to the US dollar will be inevitable. These are right wing libertarian “anarcho” capitalists who have long shot to bring down the government and rule on its ashes.
My only hope is in destroying the dollar, they wreck their data centers, which will freeze their surveillance capabilities. None of that is cheery, but I think it’s one of the sole pathways we may have to digging out from underneath these totalitarian delusional sociopaths. Will Tye and Doug be able to model the shock? Probably not. Because I think it destroys the basis for almost any aspect of MESSI.
https://washingtonspectator.org/peter-thiel-and-the-american-apocalypse/