Dollar hegemony, on the other hand, works by it being a global reserve currency that foreign central banks who have accumulated dollars from their exports have nowhere else to spend the dollars, so they have to buy US treasuries as savings (to earn a small % of interests). In other words, US treasuries serve as a “sink” to recycle spent dollars back to US shores, allowing the US to spend an unlimited amount of money overseas.
But they have to pay interest, so its not really unlimited money
GDP is not an accurate measurement of per-capita wealth. Just for example, let's take the US steel industry. US and India produce similar amount of steel, but US only requires 1/5th as many workers, so the average productivity of a US worker is 5 times more, even though both contribute a similar amount to GDP. That's why the wealth of an individual American is more. This factor also applies to everything else, agriculture for example, the average American agricultural worker is 10 times more productive than their Indian counterpart. Average US car factory worker is 7 times more productive etc.
The vast majority of global south productivity is actually in China, which is already industrialized and considerably wealthy compared to other global south. Countries like Pakistan or Dominican Republic or Peru or East Timor are poor mainly because of low productivity.
How does this work exactly? Indigenous Americans are less than 3% of the population. Do people like immigrants from Asia or Africa also count as "stealers" of USAian land? This is such a bad idea. Nationalize and let everyone partake equally, we need to let bygones be bygones.
To be fair, given the surveillance state we have, Im sure almost every crank in the country has already been reported or is known to the authorities.
ugh...tacky
I tell ya these Catholic types just don't have the classy taste of us Anglo-Saxons
Yeah true believers are a problem for the ruling class, regardless of what they actually believe in, even if they uncritically believe in the liberal orthodoxy like this guy
Someone told me to read the Communist Manifesto. That's all it took.
My honest reaction to takes like this is to complete ignore these people, and not post their stupidity even to criticize or make fun of it. People like Vaush are, above all, poeple who make money from engagement. They have no incentive to be truly intellectually honest, and all the incentive on earth to post engagement bait. That's literally their business model, it's what enables them to place food on their table, and what lets them buy their BMW and $600k suburban house.
Not even terf, I dont recall any pro feminist stuff from him, hes a straight up transphobe