Trusting US to keep to its agreements and promises is so lol. The US has a bigger military, why the fuck would we do that?
https://twitter.com/twittarmatthaus/status/1636247148663644160
such a huge financial policy is being forced onto them as a result of US financial colonialism.
Welcome to being a Global South country, EU.
I still can’t believe they don’t see it.
In the last year alone the US has effectively demilitarized you, cut off your primary energy supply, forced you into being beholden to them for much more expensive energy, announced a slew of legislation to onshore EU companies and workers to the US, and undermined the incentive or European banking.
It has been like this since World War 2, remember the US provided lend-lease and debt payments to the British Empire under conditions that would destroy Great Britain as a rival competitor
Europe in particular, but also the rest of the world, will have to choose between two strategies: either to invest their ‘surplus capital’ (‘savings’) in financing the US consumption, investment and military expenditure deficit; or to use the surplus as a boost for the economy in their own countries.
- Samir Amin
Think it’s pretty clear what the EU has done…
I chalk it up to a failure of imagination. Europe has for so long suckled at the US teat that having ideas of their own seems an utterly foreign concept. They could…but they’d have to cast off 80 years of what they’ve long been accustomed to.
The really hilarious part is Trump wanted to take Europe behind the woodshed for being useless, sanctimonious freeloaders. Now the deep state is doing it instead. They’re going to get all the credit.
What worshipping the US gets you. Pathetic.
The people in charge of monetary and military policy aren’t. This is how you get stories of American elites reading Mao.
The neoliberal option for Europe, reinforced by a supposedly ‘nonpolitical’ management of its common currency (the euro), is a major handicap for any strategy to lift the continent clear of stagnation. This absurd monetary policy suits Washington down to the ground, since the US currency (the dollar) is managed in a quite different, thoroughly political manner that has nothing to do with neoliberal dogma. Combined with the possibility that Washington will gain exclusive control over the world’s oil reserves, it ensures that what I call the oil/dollar standard will remain in the end the sole international monetary instrument, relegating the euro to the status of a subaltern regional currency.
The EU truly believe the neoliberal dogma, the US don’t. It’s why they manage their currency in the way they do, it’s why they bail out the capitalists, it’s why they did the oil wars, it’s why everytime someone tries to sell oil in alternative currencies they get invaded by the US.
Despite the undeniable volume of coolaid I don’t think that the European neoliberal project of the EU, the ECB and so on would have been able to function at the (admittedly not very high) level they have been able to so far if literally all of them drank their own coolaid. I think there are definitely high level administrators in the key european economic and financial institutions like the ECB who are equally awre as American financiers and monetary policy makers of what maintaining the financial and monetary system actually entails, e.g. throwing industrial capitalism shibboleths about investors needing to accept the risks of their investments (whatever form) out the window. They know that you don’t through the baby out with the bathwater.
If you read Fed economic papers there’s often alot of coolaid as well.
they forgot the golden rule:
never trust a yankee
:shocked-pikachu:
B-bu-but… my rules based order.
