It inevitably brings us many benefits, but it does feel like the U.S. and other western countries are being hollowed out.
Maybe this is more of cost disease than dollar dominance. Maybe they are related in some ways?
It’s almost like some twisted version of Mutually Assured Destruction mixed with economics and realpolitik. As long as you don’t try to collect your money, it’s safe and profitable to lend me more of it. Because of the implication…
I love my US made RedWings and Aldens, just not cheap. :)
(and I’m not American)
Frankly, sneaker prices are getting so damn high that for the last couple years “expensive” leather shoes and boots from manufacturers that have resisted big price hikes have been looking more and more like a bargain…
Red Wing in particular has only raised prices about 10% in the past 10 years.
What does this mean?
The opportunity is there, its just USA was supposed to use the reserve currency status to invest domestically in its own people. Instead USA made a business out of education (private schools and elite colleges).
This creates a situation where only high value jobs are feasible in the USA, but the education to do these high value jobs is too expensive. Now you have to import foreign talent, as well as goods, and this leads to erosion of the country.
China on the other hand, invested in its own people and developed industries domestically, rather than importing talent
> how come immigrants from Haiti/other 3rd world countries come to the poorest rural towns in USA and make it work, while US citizens drown in drugs and crime?
Any source(s) on this? First I'm hearing of this correlation.