Comments by "Major Moolah" (@majormoolah5056) on "The new BRICS expansion u0026 the Global South agenda | Ian Bremmer | Quick Take" video.

  1. US currently has sanctions against 3+ billion people. Billion with a B. So the Global South has a very good reason to get rid of their Dollar Overlords. There are other reasons as well: Iraq, Afghanistan, Syria, Libya, Venezuela, Yemen and Ukraine. US has been the main driver for these disasters that absolutely radiate instability in their respective regions. No one benefits from US security hegemony anymore. There have been polls in South Korea and Japan where most of the young see USA as the main threat to their security and future. Who can blame them? US currently has 800 military bases across the world and these bases are absolutely being used as diplomatic leverage. I do not think BRICS is going to create their own Euro anytime soon. But I do foresee the world getting ever more disillusioned and exhausted with the American hegemony. What will probably happen is that players like Saudi Arabia and China are gradually going to stop buying US treasury bonds. Considering the trajectory of US deficit and debt, that is going to create tremendous problems for the Americans. If you add up Pentagon budget, nuclear weapons, intelligence agencies and military aid to allies like Israel, it is around 1,5 trillion at the moment. The entire budget is close to 6 trillion with a 1,2 trillion deficit. That is completely unsustainable. BRICS and others are simply going to look at that and say "We are not going to finance this destabilizing hegemon anymore." Which is what they probably should do, from their perspective. Medicaid and Social Security will become insolvent in the 2030s. The interest payments are going to be bigger that the Pentagon budget in the 2030s as well. By some metrics 25% of Americans live in poverty and life expectancy has been dropping for 20 years as well. US is doing very badly at home. All that 30+ trillion in debt went to wars and various emergencies from 2008 to the pandemic. As a consequence the US public health, education and infrastructure are absolutely decrepit. China does not want a war with USA because they are simply looking at the US federal budget and conclude that they are going to win economically. Which they will do. Wealth inequality in USA is far worse than in 1929 and the underlying economy is nowhere near as robust as it was then. I think 70% or so is consumer spending and 10% or so is manufacturing. European manufacturing base is stronger than the American one, in fact. Which is probably why US blew up Nord Stream and put in the IRA subsidies. They are desperate. I would call the American problem the Hegemonic Cycle. They need to maintain security hegemony to maintain dollar dominance, because otherwise their economy would collapse under the costs of maintaining dollar dominance. But that is all coming to a close. Ukraine War has really showed us how weak and chaotic the formerly all-powerful colonial overlord actually is. USA cannot defeat China because USA is too weak to defeat Russia. No one will miss American hegemony once it collapses in the 2030s.
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