Reply to 'Asian Financial Crisis in Reverse': Asian currencies soar as global investors bail on the USD

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Are we tired of winning yet:

https://www.reuters.com/world/china/asian-crisis-reverse-currencies-soar-dollar-2025-05-06/

Trump and Project 2025 are doing a fantastic job at killing the dollar.  What's next? Tanking the US economy to the core of the Earth so billionaires, who can hide all of their wealth overseas, can buy all US assets up once everything crashes?  Of course Trump is going to blame the Fed after the dollar crashes, which will give him an excuse to install crypto into everything. And it will all be crypto the billionaires already own.   The US is going to be so screwed if the world ditches the dollar.  It will make the Great Depression look like a the Boy Scouts.

If you're not familiar with the Asian Financial Crisis in the 90s, millions of people over there lost everything.  In fact, Japan has never been the same and has never really recovered even after 30 years now.  People everywhere from lost their homes, their businesses, and entire life savings after the Asian Financial Crisis.  This time it looks like it might come to the USA.  The Taiwan Dollar just exploded against the USD.  Singapore is seeing huge pressure too.  It all means money is flooding into Asia and ditching the US.  Great job, Trump. [/quote]

This is good news.

The sooner the world gets off the US dollar the better for everyone.

The US will finally have to reduce their spending which will in turn stop their exporting of naked capitalism abroad

The argument against this seems awful close to the stupid argument that we need to increase birth rate.

How are people so stupid?[/quote]

So you want the US to be a second rate country instead of a country that sets the economic standards for others to follow?[/quote]

Maybe the U.S. IS second rate already.

I'm in Japan right now. I don't have to tip people to do their jobs properly (in fact, they're insulted by tips...honor...you don't have to tip me to do my job well.) The streets are clean, there are no trashcans as people are expected to take their trash home with them...AKA self pride. The trains run on time, the students in primary wear uniforms. The people are polite. The trains run on time. Everyone stays in their own lane. For the most part, TV is educationally and arts based. Obesity is a rarity.

Finally, students compete against each other. This isn't the U.S. where you are looked down upon as a brainiac and not cool fot bring academic.

We have fallen far long ago. Very far.[/quote]

We have and we've been second rate for a few years now.  However, it's not that to the other extreme of being Japan is the right way.  I love their culture and I 10000% have the highest respect for that nation.  But the gist of it is no country is going to be "best" as much as what we should strive for is constant improvement of being a society that culturally works for all of us in this country.  Carney said it in his speech - what was so awesome about him is that he understands that you just need to be the best country you all want and can be.  In effect, Japan does that.  The US doesn't have to be like Japan but it can't be this![/quote]

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