True. In 1929 the same thing happened! Outcome the rise of the dictators. Outcome WW2.
Maybe that's the plan! Start a nuclear war, ZAP the competition! Job done! The neocons have been testing out "winnable nuclear war". Given their ghastly real life record since 2003, and never having experienced the grim reality they have subjected others as a consequence of their policies....
The neocons plan is to put an end to the rise of China, Russia, etc, to stop a multipolar world emerging.
Win or fail, their aim is sit on top of the perch.
Why tariffs don't work @19.01
https://www.counterpunch.org/2018/07/16/world-trade-war-has-begun/ "China called on all countries of the world to join forces against trade protectionism and to support multilateralism. The Asian giant claims to have wanted to avoid the trade war that the United States has provoked, but has been forced to fight this war as much as necessary to protect the interests of the nation and its people.
In retaliation, Beijing announced the introduction of an identical tariff rate for the same monetary value for several U.S. goods, some of which would begin to be taxed as of the date set by Washington.
A trade war between the US and China, the two largest economies in the world, could affect not only both nations, but the world economy as a whole, according to a projection by economists at Pictet Asset Management in London, one of Europe’s leading independent asset and wealth managers.
...........immediate effects that are predicted in the war that is just beginning for U.S. consumers are the 25% increase in the price of products imported from China. These include technological products such as semiconductors and chips that are assembled in China, needed for the manufacture of consumer products such as televisions, computers, cell phones and vehicles, not to mention a wide variety of other products, from plastics to nuclear reactors.
Obviously, the US and Chinese economies will be the hardest hit, but they won’t be the only ones."
https://www.counterpunch.org/2018/07/12/here-comes-trumps-trade-war/ "Mexico is already talking about retaliatory tariffs on U.S. pork legs and shoulders, of which it imports close to a billion dollars’ worth annually. Add to that the $4 billion worth of corn and soybeans Mexico imports from the U.S. and pretty soon we’re talking real money — and real pain for the ag producers of those commodities, which may be just the first of many more to come.
Canada has likewise retaliated, slapping new tariffs on $12.5 billion worth of U.S. exports. The list is long and growing, but includes a 25 percent tariff on 40 steel products in direct proportion to those levied by Trump, as well as 10 percent on another 80 American products including agricultural commodities.
The European Union, meanwhile, slapped new 25 percent tariffs on motorcycles, orange juice, bourbon, peanut butter, cigarettes and denim. That list, too, is expected to grow as the trade war heats up.
Then there’s China, the proverbial “800-pound gorilla in the room” with the second largest economy on the planet. It’s poised to overtake the U.S. in the near future with an economic growth rate more than twice that of the U.S. The tit-for-tat retaliation against Trump’s tariffs on $34 billion in Chinese goods means new 25 percent tariffs on U.S. goods including soybeans, pork and electric vehicles.
But that’s just the start. Trump has already threatened to slap additional tariffs on $500 billion worth of Chinese imports, bringing a promise to retaliate in what the Chinese government has declared “the biggest trade war in economic history.”
http://www.informationclearinghouse.info/49782.htm "It is hard to see how other countries have been robbing the American piggy bank and taking its savings. In fact, the U.S. takes in savings from other nations: it must borrow to make payments on what it owes abroad.
At the beginning of 2018, the U.S. owed the rest of the world about $7.7 trillion. This is the difference between U.S. investments abroad of $ 27.8 trillion and U.S. assets held by non-nationals of $35.5 trillion.
U.S. borrowing to cover current debt payments is only a sidebar to the main story. The rest of the world routinely holds U.S. dollars and owns debt securities denominated in U.S. dollars. By accepting the U.S. dollar as world money, the rest of the world is lending to the U.S.
This lending has given the U.S. the ability to spend abroad without having to worry about earning foreign currency to pay for its overseas investments and consumption.
This "exorbitant privilege" was acquired by the U.S. because its currency has been the main "reserve currency" since prior to the end of the Second World War."
Russian and China have launched the petroyuan to challenge the bloated overrated U.S.petro$.
Transactions with Iran won't be done via U.S.$ to benefit U.S. financial institutions, for doing zilch!
America is writing its own obituary.
If China cashes in American treasury bonds, plummets the American stock market bubble!
Due to how "fiat" paper money works, it won't be the billionaire class wiped out! https://youtu.be/iFDe5kUUyT0
https://www.counterpunch.org/2018/07/13/... "working class wages been stagnant for decades, the average real weekly earnings of all production and nonsupervisory workers remained $312.18 in early 2018 compared to $315.44 in 1972, but have in fact been falling over the past year."
Study shows tax cuts don't boost the incomes for the majority of Americans.
https://countercurrents.org/2018/07/14/delusions-of-u-s-hegemony-trump-visits-europe/ "least two problems with this scenario: China is now the world’s largest economy on a purchasing power parity basis, and the Russians have the nuclear capacity to make a wasteland out of the US. Russian weapons systems can also be superior."
· 9 months ago