1. An excellent analytical snapshot, however, and there is always a however, if one were to posit matters in terms of the determining moment in historical processes as opposed to factorial proportions, then given the deepening crisis of capital social as well as economic interrelatedly, then the US's military might becomes the edge by which the security ceiling of the imperial centre is maintained. it is this very rift between the US and others in military forces that allows it to pile up on the world's unrequited transfers. if the US military works for the interests of US capital, then it may be easy enough to go back to humanitarian aerial bombing as opposed to land invasion. 2. think also of dollar price assets in the third world undervalued by the brokerage of power relations and allowing ever more impetus into first world profit. 3. the term global imbalances and unrequited resources show evidence of imperial rent. 4. can the world really keep pace with avantguardist tech progress and doesn't manufacturing output surpass modern needs. after this it is best to bail out. here's a quote that someone called suicidal "You can either belong to the problem or to the solution, there is nothing in between"
I think it's right to assume that the "dollar is the fiat money for much of the world" based on its military might. But manufacturing, more broadly economic, and financial might also help shore up the dollar as the world's fiat money. It's also true that this situation helps the US get better credit terms from the rest of the world (and the advantage of being a "safe haven" for capital funds). With all four of these being pretty shaky right now, it's possible that the world might have to switch to some combination of US$ and euros or something like that. And the credit/safe haven advantage of the US would go away. I don't know how the US could force the rest of the world to lend to it "against their will." The US military seems overstretched. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l ____________________________________________________________________________________ Be a better friend, newshound, and know-it-all with Yahoo! Mobile. Try it now. http://mobile.yahoo.com/;_ylt=Ahu06i62sR8HDtDypao8Wcj9tAcJ
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