In case anyone was wondering what exorbitant privilege was:
“The term which has been in place for a very long time is that we have ‘exorbitant privilege’. That we end up paying a much lower cost for financing our deficits and debt, we have much greater capital flows and attractiveness of the dollar and assets, because of these things,” he said.
Basically people invest here because it is a pretty stable business environment. Constantly going back and forth on whether massive tariffs will be put in place, puts that all in jeopardy.
No shit. With or without Trump the risk and writing on the wall has been there for some time. Krasnov and his Ketamine addicted financer are just accelerating an already existing problem with uncapped capitalism and the overly complex and unfairly weighted tax system.
Systems seek balance. America’s, and the world’s, economic and power systems are weighted to the wealthy. This is untenable and will rebalance, either chaotically or calmly.
Based on how the ultra rich behave, it will not be calm.
The headline does not do Justice to the words from J.P. Morgan’s chief economist.
