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Europe’s economic engine is stalling: Germany deindustrializes
(www.politico.eu)
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this post was submitted on 17 Jul 2023
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What makes you think that the dollar will collapse? Lol
BRICS is slowly gaining steam, Saudis no longer selling fossil resources exclusively in Petro Dollar, African nations are calling for their members of parliament do derisk of a US dollar collapse by selling whatever dollars they're still holding, inflation is rising due to the FED raising interest rates.
Probably won't happen this year but I'd be surprised if the dollar didn't start dipping in 2024.
That's probably the most none-sensical statement I read for quite some time.
Yeah this person just lined up a series of completely idiotic statements. The FED raising rates lowers inflation, and inflation in the US is back down to 3% as of this past quarter. They also claimed BRICS was taking off when it's literally quite the opposite. BRICS is never going to happen with its member countries basically in opposition of one another.
Can you lay out precisely how its member countries are in opposition of one another?
I think your assessment of what the Fed is doing is either based on underestimating the complexity of the monetary system or you've been misinformed by people who don't have your interests at heart. Please check this comment where I provide a source for my assessment of what the Fed is doing: https://lemmy.ml/comment/1684511
Check yesterday's comment of mine: https://lemmy.ml/comment/1684511
Feel free to provide me with better sources that aren't like "everything is fine, don't worry, your money is safe and the Fed is doing this in your interest" without providing meaningful data to support that.
Inflation rates are sinking. That's it. No need to also debunk your bullshit about why inflation is rising when it isn't. Or do I need to google the US inflation rates for you?
Wait, you're claiming inflation is rising because of increased interest rates? That's a first. Cite?
One example with insightful graphs: https://www.lynalden.com/inflation-vs-interest-rates/
Some quotes:
Brazil has historically been untrustworthy from a geopolitical standpoint. Russia is currently invading another European country. India could be stable, but they have a long way to go in terms of both development internally and on an international stage. China has essentially allied with Russia as they invade another country and is projected collapse in population to 800 million by 2100. And Saudi Arabia is soon to become nearly uninhabitable due to global warming and their main revenue stream is being phased out in many parts of the world.
The countries that are "worried" about the USD as international standard currency are mostly countries that are politically misaligned with the west or are developing countries that want to focus their reserve in more regional currencies to help insulate them from international crises. Any other countries that are shrinking their percentage of USD in reserve are probably doing so to diversify their "portfolio" like any sane person would that holds significant value in the stock market.
The USD may lose value in the next decade or so, but until there's a concerted effort by the EU,G7,UN, etc. The dollar will almost certainly remain the standard. It's a massive and stable market that's still projecting population growth into the 2100's.
Hahahahahaha
Not sure what's so funny about that. China still has a bigger economy growth than the US (6,3% vs less than 3%). India is also above 6%. So yeah, these two alone will get closer to the US.
Thanks for the constructive insight!