this post was submitted on 15 Oct 2023
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Yes. The trillions of US dollar-denominated debt can always be paid, so the collapse won’t come from that directly. But imperial power is fading and attempts to retain/regain it seem to be accelerating that. The Biden admin. factions that are attempting re-industrialization are at odds with the FIRE factions, and when the Republicans get back in power, they’re unlikely to do any better. What do we make now but dollar-denominated loans and expensive, underperforming weapons?