> freeloaders that have benefited from our technology, military defense, and foreign aid while simultaneously being net exporters to the US.
I'm not trying to jump on you for having captured it, but the problem is that this is wholly nonsensical - the repayment for benefiting from our technology and military defense IS the net exporting to the US (via holding our currency). That "logic" is still based on having one foot in the paradigm of the financial engineering puppetmasters where getting real physical goods is somehow a liability rather than a benefit!
For sure, this enviable position has had a corrosive effect on our economy. But the inability to deal with that has been wholly down to self-inflicted policy wounds of previous decades - chiefly led by the Republican party marketing a game of fake "fiscal responsibility" whereby the government is prevented from taking deliberate action to mitigate the displacement of industry and workers, while the increased (but now centralized) wealth from offshoring (and other technological/economic gains) was merely handed over to the banksters in the form of low-interest loans that went into driving up the asset bubble.
I'm not trying to jump on you for having captured it, but the problem is that this is wholly nonsensical - the repayment for benefiting from our technology and military defense IS the net exporting to the US (via holding our currency). That "logic" is still based on having one foot in the paradigm of the financial engineering puppetmasters where getting real physical goods is somehow a liability rather than a benefit!
For sure, this enviable position has had a corrosive effect on our economy. But the inability to deal with that has been wholly down to self-inflicted policy wounds of previous decades - chiefly led by the Republican party marketing a game of fake "fiscal responsibility" whereby the government is prevented from taking deliberate action to mitigate the displacement of industry and workers, while the increased (but now centralized) wealth from offshoring (and other technological/economic gains) was merely handed over to the banksters in the form of low-interest loans that went into driving up the asset bubble.