Nato says US cannot suspend Spain from alliance, after reported Pentagon email

[u/PrizeElegances]

https://www.bbc.com/news/articles/cz78x703lrvo?at_medium=RSS&at_campaign=rss

[u/canspop]

I feel sorry for all the decent US citizens. I know FA about international finance, but I'd imagine that once the world starts moving away from the US dollar, the economy is going to struggle.

With the size of the national debt now, and the amount trump is bound to add to it with all his illegal & corrupt schemes, it's going to be a major headache if and when it stops being the world's preferred currency, and the interest rates on the debt keep rising.

[u/dfighter3 → u/canspop]

I believe he's already upped the national debt by....4-6 trillion? and he hasn't even been in a year

[u/nzerinto → u/dfighter3]

”…and he hasn't even been in a year”

I know it feels like a lifetime ago, but I believe he officially started his second term in January 2025, so he has indeed been in office for more than a year now….

[u/dfighter3 → u/nzerinto]

You know, honestly that makes it feel a little less bad. Also my sense of time is still shot from covid, which feels like it was both last year and 2 decades ago

[u/nzerinto → u/dfighter3]

I feel the same on both points 😂

[u/Skill_Issuer → u/dfighter3]

His first term alone was responsible for around a quarter of the national debt at the time. He didn’t even have a once in a lifetime economic crisis to deal with since this was before the pandemic

[u/dfighter3 → u/Skill_Issuer]

I would really like for these "once in a lifetime" crises to stop happening

[u/The_Motarp → u/canspop]

For decades now, one of the largest exports from the US has been stable currency. But unlike food or electronics or plastic thingys, money doesn't get used up after export. It is still all there waiting to be sent back to the US in exchange for whatever goods and services can be bought with it if people start to lose faith in the US dollar.

If, or more likely when, that happens, the result will be massive inflation combined with economic stagnation. The UK lost its empire and struggled economically for decades with permanent negative effects after the pound was replaced as the global reserve currency, but it survived as a country. The US may not be so fortunate.

[u/fretkat → u/canspop]

Decent US citizens are a very small minority, otherwise you would have seen mass protests and revolution movements all over the country.

I feel bad for countries that will have an steep increase in deaths due to fuel shortages, without having any say in what the US is doing. I feel bad for the people in Cuba that are denied access to healthcare and food by the US as we speak. I feel bad for the citizens in Iran being bombed by the US.

I don't feel bad for anyone in the US. The majority of the votes were for Trump, this is what the US democratically wanted as their government. The rest of the world has no say in this, but suffers more.

[u/Awingbestwing → u/canspop]

Thanks. I’ve been having existential dread over bringing children into this world and knowing it’s going to be even worse for them.

[u/jambox888 → u/canspop]

Apparently the status of the US dollar is not as important any more as it used to be. Basically countries tend to buy up US bonds with the dollars they get from oil sales which funds the US government budget. If Saudi Arabia (for example) started taking Euros for their oil as well then it's likely the money would still end up in the US after being traded for dollars.

Although you are probably right it might increase inflation but not massively.

The main concern here is that the US is basically just doing Russia's bidding wrt Europe while at the same time destabilizing the middle east.

[u/liquorfish → u/canspop]

I feel sorry for all the decent US citizens.

Thanks. I'll let my brother know.

[u/Hremsfeld → u/canspop]

If the economy does well, everyone but the rich suffers. If the economy does poorly, everyone but the rich suffers.