Yes, but no manufacturing economy can be realistically stood up in time to replace the sheer consumption that money-printing enables.Example: to make $1T, you can (a) print or (b) sell $1000 phones to 1B people. Obviously, the former is far easier.https://t.co/glnreb1a1V https://t.co/kNFZgGpqdZMichael Bruno (@brubarian):@balajis Have you read Miran’s piece tying reserve currency to trade and national security? It helps frame this recent trend in dollar depreciation. ...

De-dollarization Trend - JPMC承认“去美元化”已成为投资者、企业和市场参与者讨论的重要议题 [1] - 随着美国去全球化，全球去美元化趋势显现 [1]

JP Morgan is updating their p(doom), but for the dollar. https://t.co/NtCivnXCJo ...

I do agree that Keynesianism was the most successful variant of Communism. It also seized ~100% of wealth from the population over time, but did it gradually and invisibly as opposed to suddenly and violently.But that business model is ending.https://t.co/BFlayTRJH0 https://t.co/f33rcThanhstaysaasy (@staysaasy):@balajis This graph also correlates with us becoming the most prosperous nation in the history of the human race.So not sure it’s clear evidence of doom. ...

Spot the Fed.https://t.co/TqqI0Wx7CTBalaji (@balajis):THE FED IS FEELSWhen I say the Fed sets rates on feels, I mean it in the most literal sense. See the quote[1] below, where they admit setting rates based on what they "felt like" in the morning!That piece[1] gives a behind-the-scenes look into how Fed officials "reached their https://t.co/6jQdr5aELZ ...

Customers get mad at grocery store prices because they can't see the Fed.Investors get happy about rising stock prices because they can't see the Fed.And everyone is confused about housing prices because they can't see the Fed.But you can. https://t.co/ALqnbdXbAH ...

AI is decentralizing to Asia too.Manus, Deepseek, Qwen, Kimi.Interestingly, they are also decentralizing out of China. By going open source, and by physically moving out of China.Cline (@cline):Less than two weeks Kimi K2's release, @Alibaba_Qwen's new Qwen3-Coder surpasses it with half the size and double the context window.Despite a significant initial lead, open source models are catching up to closed source and seem to be reaching escape velocity. https://t.co/lVTxSl7Hy8 ...

Crypto has decentralized to Asia. https://t.co/G7OiOROsgn ...

Of course, that’s an outside perspective. China is highly visible to China! But in the West, it’s only perceived through graphs.Even if everything physical is made in China, and everything digital is made on the Internet.The ubiquity was enabled by the invisibility. ...

Despite their enormous scale, China and the Internet are nevertheless somehow invisible.China because it’s overseas.The Internet because it’s in the cloud. ...