Comments by "Persona" (@ArawnOfAnnwn) on "Why the US Can Go Bankrupt in 15 days [And No One's Fixing It]" video.

  1. I love how you just skipped over Obama's (a Democrat) two terms lol. 😅😏
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  2.  @lenny5774  The US has a very dysfunctional form of democracy that inherently results in a 2-party system. Firstly they first past the post, a terrible voting system. Secondly they don't have an independent electoral commission, so their electoral lines are decided by politicians (known as gerrymandering). Thirdly their campaign financing ensures that non-duopoly parties get barely any resources to work with, hence why most 'third party' candidates in the US tend to be rich dudes with their own money (who've so far all failed, unless they won as part of the duopoly like Trump was). And so on. There's a myriad of issues with how America does democracy. Ironically the so-called champion of democracy in the world actually has one of the worst democratic system. There are a few worse ones, like Japan, but not many.
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  3.  @Vroomfondle1066  Yeah, for as long as that lasts...
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  4. EVERYTHING is a negotiation unless you have absolute or at least dominant power. That 'obligation' statement is stupid. The only time something is not a negotiation is if everyone is in agreement or your side has total control. Neither is the case in the US, so accept that.
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  5.  @Pyrrhic.  "it’s not a problem" - for now. It's an ever more precarious house of cards that's just waiting for some big change in the world order and then the whole thing will collapse like all other card houses. By contrast not being so indebted would allow it to take a major shock. The fall of the British Empire, for instance, didn't make Britain itself fall. And btw, the world can make a new reserve currency if needed. There's already a candidate for it - not the Euro or Yuan, but the IMF's Special Drawing Rights (SDRs). They aren't suited for the role as is, but if needed during a crisis a new version could be created that would serve the needs of international trade. The world doesn't do so cos it doesn't need to, the dollar serves the role - for now. But if the dollar is shaken, and no ready replacements are on hand, one can be made. Assuming one is even needed. Note that for most of human history there was no such thing as a global reserve currency, yet trade still flowed. You don't need one for international trade, it just makes trade easier and simpler. Not having one would reduce global financial efficiency somewhat, but it wouldn't kill it. So basically the US is banking on its hegemony to last forever. That's even more arrogant than the Nazis were - at least they only banked on lasting for a 1000 years. If the US hegemony is ever shaken, its whole economy will fall apart.
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  6. @Boy Kulot Depends on how it plays out.
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