This is basically self inflicted, as usual messing up in the Middle East always ends up with consumer paying the price for their ruler's stupidity
"Oh no, my drinking water tastes like crap after I pooped in the well"
But unlike in the old days, US wins from higher prices. Even consumers wins (because they make more money on average, and their imported goods are cheaper because balance of payments shifts in US favour because of oil exports).
Voters are furious because of psychological factor of gas prices (purely psychological, it has nothing to do with economy or people's purchasing power). It bites politician's asses real hard.
So, Trump undermined himself by launching that war - but others are fine.
All of that depends on the strength of the Dollar, If the US is to deindustrialise as it aims too it needs a weak dollar.
Secondly theres the Petro-dollar which depends on the Middle East states Reinvesting their profits in the US to keep the dollar strong I don't know if you checked but I don't think they are going to be making any money in the near term. So looks like the dollar will be falling anyway.
Further to that there is the global debt system which largely relies on buying US treasuries if countries get squeezed by the coming inflation, theres the chance these get dumped on the market and if that happens I believe the term is "Well, Fuck."
> If the US is to deindustrialise as it aims too it needs a weak dollar.
Typo for "reindustrialize"? Is the idea to move people from well paying comfortable services jobs to uncomfortable repetitive lower paid factory work by forcibly lowering their standard of living?
De-industrialize, which should not be a new surprising word, as the appalachian factory belt (now mostly rusted out buildings) has existed for decades.
I'm trying to imagine your painted scenario in a positive light ie; "everyone has well paying comfortable service jobs."
Do you feel that the rest of the world will just allow itself to become the "butler" of the US, so we can all make $50 usd an hour doing easy jobs? Of course not. As the dollar weakens, and imports rise, we only get skewered more, while our "comfortable service jobs" become worthless.
qalmakka · · focus · HN ↗
"Oh no, my drinking water tastes like crap after I pooped in the well"
anovikov · · focus · HN ↗
Voters are furious because of psychological factor of gas prices (purely psychological, it has nothing to do with economy or people's purchasing power). It bites politician's asses real hard.
So, Trump undermined himself by launching that war - but others are fine.
Urahandystar · · focus · HN ↗
pjc50 · · focus · HN ↗
Typo for "reindustrialize"? Is the idea to move people from well paying comfortable services jobs to uncomfortable repetitive lower paid factory work by forcibly lowering their standard of living?
Reubachi · · focus · HN ↗
I'm trying to imagine your painted scenario in a positive light ie; "everyone has well paying comfortable service jobs."
Do you feel that the rest of the world will just allow itself to become the "butler" of the US, so we can all make $50 usd an hour doing easy jobs? Of course not. As the dollar weakens, and imports rise, we only get skewered more, while our "comfortable service jobs" become worthless.