This coming year will reveal the deficit in leadership that has been achieved with corporate-sponsored denial. The dollar reserve currency has been funding exceptional ignorance for far too long.
It's not just Trump who has been chosen.
"It’s been called the “exorbitant privilege”; it might also be termed “the indestructible curse.”
"It was Valery Giscard d’Estaing, French finance minister and later president, who called the dollar’s global role an “exorbitant privilege.” By this, he meant that the United States could pay for imports simply by printing more money...There’s a “something for nothing” quality to the dollar’s status that — paradoxically — also fuels discontent with globalization."
There is no paradox to be found. U.S. workers pay the full price for this exorbitant privilege through a higher dollar and reduced export competitiveness. The U.S. rentier class, the wealthy, are the sole beneficiairies via surplus global capital inflows. This is precisely what Trump's trade team doesn't understand about global trade. And why the trade deficit is near record wide - to finance the Trump fiscal deficit.
Vietnam is winning the trade war:
Those who believe that the two largest economies in the world can rearrange the "indestructible curse" without causing massive capital dislocation, are in for the surprise of a lifetime.
We should know the time we live in, sadly grasshoppers are always the last to know. The closer winter approaches, the more they rage against the closing reality. As it is now, with this Trumptopian vacation from responsibility. Not even the slightest clue what banquet of consequences has been set before them.
How it always ends.
ClubOrlov: License To Kill:
"As the endgame approaches, those still nominally in charge of the collapsing empire resort to all sorts of desperate measures—all except one: they will refuse to ever consider the fact that their imperial superpower is at an end, and that they should change their ways accordingly."
Make no mistake, when their :15 minutes of fame is stubbed out like a cheap cigarette, the underwear will be mighty stained when the masses at large finally realize that Disney World has systematically cultivated NO LEADERSHIP.
"Let's see, there's Sneezy, and Dopey, and give me a minute..."