Dominant superpowers don’t accumulate $30 trillion in debt

[Kamaji]

Dominant superpowers don’t accumulate $30 trillion in debt

By Simon Black
February 07, 2022

The year 238 AD began with Maximinus I as Emperor of Rome– a former peasant who had worked his way up through the ranks of the military before being chosen as Emperor by his troops.  By August of that year, Maximinus was dead, and five other men had briefly held the title of Emperor. Only one (Gordian III) was still alive by the end of 238 AD.  This is known in Roman history as the ‘Year of the Six Emperors’, and it was an obvious watershed moment in the decline of the empire.

It’s not like Rome hadn’t seen plenty of turmoil before–

There had been full-blown civil war between Julius Caesar and Pompey the Great nearly three centuries prior in 49 BC. Caligula managed to engineer a major supply chain crisis during his reign in the early 1st century AD.  Much of the city of Rome burned to the ground under Emperor Nero in 64 AD. Caracalla heavily debased the currency and caused widespread inflation in the early 200s.  And more than a dozen emperors had been assassinated up to that point in Roman history.

People were used to crisis and chaos. But the Year of the Six Emperors felt different. It was as if Romans suddenly realized they were no longer the dominant superpower.

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It’s hardly controversial to assert that dominant superpowers don’t accumulate $30 trillion in debt (which, by the way, is 25% larger than the entire US economy).

But it’s not just the debt. It’s so much more.

Dominant superpowers don’t surrender tens of billions of dollars of military equipment to their sworn enemy, and then fly away with local civilians clinging to the side of their aircraft.

Dominant superpowers don’t abandon their own citizens abroad.

Dominant superpowers don’t engineer historically high inflation… and then ignore it. Nor do they embrace socialism, i.e. the literal opposite of the capitalist economic system that created so much wealth and power to begin with.

Dominant superpowers don’t send their government agents to harass innocent citizens, or tell parents they have no say in the education of their children.

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Source:  https://www.thedailybell.com/all-articles/news-analysis/dominant-superpowers-dont-accumulate-30-trillion-in-debt/

[Free Vulcan]

The problem is China is hardly better off financially than we are. Despite all their aggressiveness, they have no more capability to be a true superpower then we do.

[Kamaji]

The problem is China is hardly better off financially than we are. Despite all their aggressiveness, they have no more capability to be a true superpower then we do.

Doesn't matter.  It doesn't require another superpower.

Rome fell apart and the carcass was gnawed by the small powers, not another superpower.  The same will happen with the U.S.; the small powers - including China - will gnaw at the weakened giant, and bring it down, whereupon they will consume the carcass bit by bit.

The U.S.'s failure won't be gainsaid just because China isn't really a superpower.

[Free Vulcan]

Doesn't matter.  It doesn't require another superpower.

Rome fell apart and the carcass was gnawed by the small powers, not another superpower.  The same will happen with the U.S.; the small powers - including China - will gnaw at the weakened giant, and bring it down, whereupon they will consume the carcass bit by bit.

The U.S.'s failure won't be gainsaid just because China isn't really a superpower.

Thing is China needs our money to fund themselves. If they were to topple us, they would chop off their own legs.

Most people think that China would take over for us in that situation. I used to think so too. Now knowing how precarious they are financially, I more see the world in a state of leaderless anarchy and impotence for maybe a long period of time.

[Kamaji]

Thing is China needs our money to fund themselves. If they were to topple us, they would chop off their own legs.

Most people think that China would take over for us in that situation. I used to think so too. Now knowing how precarious they are financially, I more see the world in a state of leaderless anarchy and impotence for maybe a long period of time.

You're way too fixated on China.  There are lots of other countries out there that wouldn't mind the U.S. going away.

China doesn't matter, except to the extent that it can cause damage.

China is to the U.S. as the Germans were to the Roman Empire - capable of doing a lot of damage, but not capable of replacing the Empire.

[Free Vulcan]

You're way too fixated on China.  There are lots of other countries out there that wouldn't mind the U.S. going away.

China doesn't matter, except to the extent that it can cause damage.

China is to the U.S. as the Germans were to the Roman Empire - capable of doing a lot of damage, but not capable of replacing the Empire.

It's not China per se, it's that a dominant superpower creates a stabilizing force, even if it's not always a positive influence.

Even the collapse of the western Roman Empire still left the Byzantines in power for another 1000 years, who at least kept a degree of stability and civilization in Europe till the rise of the Holy Roman Empire.

China and the US right now are the two strongest nations on earth. If they were both brought to their knees, the resulting power vacuum could result in another and far more scarier Dark Ages with no one minding the ship.

[Kamaji]

It's not China per se, it's that a dominant superpower creates a stabilizing force, even if it's not always a positive influence.

Even the collapse of the western Roman Empire still left the Byzantines in power for another 1000 years, who at least kept a degree of stability and civilization in Europe till the rise of the Holy Roman Empire.

China and the US right now are the two strongest nations on earth. If they were both brought to their knees, the resulting power vacuum could result in another and far more scarier Dark Ages with no one minding the ship.

Then, most likely, neither is a true superpower any more. 

[Free Vulcan]

Then, most likely, neither is a true superpower any more.

I don't believe so, and that to me is damn scary in this age of technology.

[Kamaji]

I don't believe so, and that to me is damn scary in this age of technology.

We shall see. 

My guess is, we have a couple of small nuclear exchanges in the next 20 years.  India and Pakistan will have an exchange, and Israel and Iran will have an exchange.

If there are no superpowers at the time, that might, in a certain sense, be a good thing, because there will be nobody to take the local conflict global.

[Fishrrman]

Mr. Black:
"Dominant superpowers don’t accumulate $30 trillion in debt"

Maybe the country you're talkin' about isn't really the "dominant superpower" any more, even though it thinks it still is.

$30 trillion?
You ain't seen nuthin' yet.
By 2024, it will easily be $38-40 trillion.
Or... higher.