Personally, I am completely in favor of all these policies. We are basically going to go through a period of austerity.

It is really what makes this system so incredible. Such a dynamic system to go from sending people checks in the mail to a few short years later, austerity. People get much too involved though with the personalities as opposed to what the system is doing as a whole.

At the most macro level, I think there is a tremendous amount of denial that the unipolar moment is over. The arguments against austerity here are just clinging to a time that has come and gone. It is like wishing I could stay in my 30s forever.

AI is also incredibly deflationary long term. The path we were on would have devalued the currency long term. If we get control of the debt and re-shore manufacturing, I can't imagine that not being good for the currency. I think the easiest way to get a non-distorted view is by flipping things around from the perspective of China.

All of this would seem bad from the Chinese perspective.

I feel like we are also doing a type of Yuan gambit to the world long term here.

Sick of the US? Well the Yuan is right there for you to take. We are betting on the gambit being refused.

If we could just turn the temperature down on the political personality bullshit there is so much interesting discussion to be had but it is almost impossible that it currently doesn't turn into a pointless food fight.