There's no such thing as a market so controlled that it's immune to inflation. The Russian Ruble is as controlled as a currency can be and Russia is teetering on the edge of hyper-inflation. It's core inflation rate is over 9% and their version of the "Prime Rate" for lending has now jumped from 19% to a historic 21%.
China has more breathing room than Russia but it's still not going to be pretty, especially if this "bailout" fails.
Don’t they have many trillions in reserves?
Right now China has about 3.2 trillion in ForEx of all kinds and currencies which means that this bailout represents nearly half of the total.
ForEx is an extremely complicated subject, way too much for a single post, but it is essentially the lubricant for trade. If you don't have enough of it in the right currency on an hourly (or less) basis to support your imports and exports then the machine will seize up.
So what China is doing here is risky as hell and if it doesn't work they will soon have the same kind of financial problems that Iran does and that is stupendously bad for an export based economy.
2016 was an absolute shit show on Reddit. It was a dogfight between the Bernie Bros and the Trumpers until Bernie got knocked out of the primaries then knocked off Reddit by CTR. Then it was a dogfight between the ShillDawgs and the MAGAts with the t_d'ers eventually coming out on top because of their willingness to endlessly game the Reddit algorithm.
Where do you go for such discussions anyway?
The closest I've ever found was a heavily moderated sub on Reddit. I have no idea if its still any good or not because I haven't been there in over a year.
Remember The Constitution says any rights not specifically granted to the Feds are the States.
The Supreme Court, to thunderous applause and cheering, killed that notion a LONG time ago. I wish California the best of luck in trying to resurrect the idea, I truly do, but I wouldn't hold your breath.
Even now most Progressives wouldn't like the idea in practice. They've spent over a century fighting to create a Federal Government that is Large and In Charge.
Are we starting to understand yet why it was a horrible idea to give the Federal Government so much power over literally everything? It's precisely why the framers of the Constitution tried so hard to limit what the Federal Government could control and its why the "States Rights" argument has always rung true.
I hope California is successful in their efforts to "Conservative Proof" their State. What they are attempting to do flies in the face of nearly 140 years of precedent but its EXACTLY how this damn country was intended to work.
Every time they lost it’s because they relied on the left that didn’t show up
The left DOES show up...but here's the thing...there's not enough of them to make a difference. I know it FEELS like leftism and even progressivism is super duper popular because its omnipresent on the internet but in the real world there just aren't enough of them to matter for national elections outside of a few specific places.
It's like relying on an 8 year old to help you move furniture. You quickly realize that they just aren't strong enough to do much.
but I am not.
As the father of a Gen Z Son whose almost done with a degree in Chemical Engineering I can confidently say that you are wrong. There's large numbers of intelligent, educated, and caring young men out there and it's been my privilege to watch quite a few of them grow up.
As a man over 50 I'm going to point out that if everywhere you go smells like shit then you need to check your shoes.
Everyone blaming Trump (fuck that guy) is missing the forest for the trees.
Europe should have ceased relying on the United States for security as soon as it substantially recovered from WWII. That it didn't has been a bone of contention since before the collapse of the U.S.S.R.
Voter turn out was much lower than 2020 and 2016 just like this poll predicted.
Say what? Voter turnout in 2016 was 60%, in 2020 it was 67%, and in 2024 it was 65%.
It’s how we’ve reacted to their aggression so far.
The United States really does not want to get into a direct conflict with Russia. There's no question that we'd win any kind of conventional conflict but the American people have no desire for another land war in Europe. We've been there and done that, twice, and while I think we would support our European cousins for a 3rd go around getting support for it would require that the Europeans commit themselves first.
On a tangent but speaking frankly Europe as a whole needs to plan for dwindling support from the United States. Regardless of who wins the 2024 US elections the voting demographics of the United States are changing fast. There are literally tens of millions of current and near future immigrants from all over the world who will never care about European security as much as the current voters do. Why would they? Why should they?
The average immigrant from Asia or Latin America will not have ancestral ties to Europe and as their impact on US politics grows it's inevitable that US support for European shenanigans will dwindle. As voters they will push the US Government to care far more about what's happening in India, Mexico, Guatemala, Venezuela, and various countries on the African continent.
This is going to happen even if the United States elects nothing but Progressive Politicians for the next 10 election cycles and Europe needs to prepare for it.
I wish the United States would end it's embargo with Cuba. The moves toward doing that were, IMHO, one of the bright spots of the Obama Administration.
As a libertarian myself Milei is an idiot for following the United States on this. True libertarians, not those Mises Caucus assholes, are generally not okay with these kinds of trade barriers.