The Global Stakes of the U.S. Election: Debt, The Dollar, and Military Power
Reality Roundtable #12
Ahead of the U.S. Presidential Election between Kamala Harris and Donald Trump, both of whom have distinct monetary and fiscal policies, there is much debate on the potential systemic consequences for the global economy. What is the current status of the United States in the socio-political landscape, and how might trends in energy, commodities, and geopolitical tension affect the actions and capabilities of the next U.S. presidential administration? In turn, how could this affect the global economy?
In this roundtable discussion, I’m joined by financial analysts Luke Gromen and Michael Every to explore the precarious nature of current fiscal practices, the relationship between military power and economic stability, and the potential need for radical policy shifts worldwide. We also delve into the future of the U.S. dollar as the global reserve currency and the importance of price, availability, and stability of energy resources for thinking about future economic strategies.
What are the implications of NATO's actions in Ukraine for global financial relationships, and what are the resulting strategic dilemmas for Europe? How is China potentially using gold to prepare for a fundamentally different economy with fewer resources? Most of all, how can we begin to steward our economic systems in a more sustainable direction if we don’t have a shared understanding of the values and goals that underpin everything we’re doing, regardless of who the next U.S. President may be?
In case you missed it…
Last week, I was joined by architect and professor of planetary civics, Indy Johar, to explore the relationship between system design and human behavior - and what might be possible for transformational change. Along the way, we discuss the impact of sunk costs on our ability to change, the importance of new language to describe and respond to our human predicament, and envision future governance and economies that could enable the full spectrum of what it means to be human.
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This was a challenging conversation and there is much I think is right but there are also several bits of mental and moral gymnastic at work here. Some of them may be explained by some editing choices maybe, (points are mentioned but never articulated) but the one that gets me is there an agreement that the economy should have a moral backing (sounds great) then in the next breath seemingly backing a fascist for president because that person will (in theory) be better for the economy. Then making the point that government micromanage is the road to hell. Which is probably right, but one of those things is not like the others. Economists are a strange lot.
I have to say I didn’t love this conversation as I have loved just about every podcast I’ve watched on this platform. It was so depressing to listen to this discussion.