Message from @Sh0t
Discord ID: 663862756092674070
especially with regards to Iran even in 53
mmhmm
Could it be possible that another reason for Brexit is because of that influence?
Because from what i'm seeing the rest of the EU is trying to distance itself from the US
It's tough to say/see this close, but there is clearly a nationalist thread in Britan that larps the british empire still being aroun
yea they are trying but it's not that simple. countries like Germany depend on the US maintained global order
any export heavy economy basically depends on the US navy etc
Trying but not succeeding basically
Not until something changes
well main thing in Europe is the Germans are too selfish to do what we do to have our position
'basically' run twin deficits
OR just scrap monetary union altogether, but Germany benefits from the curreny monetary policy
Germany accuses Greece of behaving in ways Greece can't really avoid, because of Germany's massive trade surplus
in prior days, Greece would have devalued and evened out things, but with Euro, they can't, so they are stuck
This was one of the most predicted effects of the Euro prior to its creation, from socialists, capitalists, etc. they all could see it
And as a Romanian MEP put it, the capital flows are also east to west, in addition to the obvious from the monetary policy
Interesting. It gets even muddier than I initially thought
tricks of the trade, bad econ might be taught for a reason
in the US we have a different scenario. We have a monetary union, a fiscal union(but it's lopsided) and the COnstitution EXPLICITLY outlaws tariffs between the states
imagine if the last part weren't true, many states would have tariffs on other states. "low wage labor" from southern carolina impacting california or whatever
instead we use tricks like the minimum wage law. Federal min wage hits the whole country, but cost of living is different so the effects are not the same
if cost of living is 20 an hour in boston, but 7 in south carolina, federal min wage of 8 bucks hurts SC more than boston, erodes their cost of labor advantage
if tariffs were allowed internally, you could imagine tariff lines all over the place in the US. in place of that, we have fiscal sharing where california 'taxes' are spent in south carolina, so they we have many states that are net tax-winners, paying far less than they get
Look, a normal conversation on this server
How rare
Of course it's between sh0t and boo
Boo is the people's champ
Oh don't mind us
It's good to sometimes unwind from ideological hostilities with other people
she lays out some of it there. US has similar kind of issues but not as bad because we are a real fiscal union. it has been a running fight since the revolution ended though
Gonna have to look into this in detail
when world had a 'gold standard', similar problems occured internationally, which didnt' help the situation prior to the world wars
Got anymore reading material?
no 😄
It's okay
That article could be a good starting point for further research
that's what macro players do
that Romanian MEP aint too shabby either
French-Romanian