I agree some people say that, in a kind of hopeful way, wishing that some guy will arise and restore order and bring greatness.But the beginning of the American Empire was FDR, 80-90 years ago.I mean, there’s no way you can look at this global footprint and say otherwise. This ain’t the posture of a people sitting humbly behind their own borders, but the greatest empire of all time. And now it’s withdrawing from the world.Gabriel Delgado Ayau (@gabedelgadoa):@balajis There's actually an argument to be made ...

Yes, it does herald the end of American Empire.(1) First, those social media posts are on the Internet. Not via some state-aligned prestige outlet, not via broadcast media. They are on the Internet, on tech platforms operated by non-government actors, where anyone can talk back. Very different from the institutional strength of the past!(2) Second, obviously the global economy would not choose from scratch to center itself around something so unpredictable as today’s DC. The past architects of American Empi ...

I like Switzerland and agree that it was arguably an exception to the rule. But it isn’t anymore and hasn’t been for some time.It capitulated to Obama in 2009 on financial privacy, and so Swiss bank accounts don’t really exist. The Swiss (perhaps understandably) sanctioned Russia after 2022 and nuked the Credit Suisse bondholders, in violation of financial neutrality. That neutrality is now found only onchain.The country is also de facto a member of NATO and the EU, even if not de jure. And is moving toward ...