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Thank you!!

This is what happens when the rich evade accountability, elections are privatized and the bribery of public officials is decriminalized. Capitalism inexorably leads to fascism.

Richest country in the world complains about what made them richest. Karenistan.

Also… the people casually threatening the peace of the same last 80 years for no good reason perhaps don't know much of anything

It’s the defining policy that has made them the most wealthy until NOW, when they have been beaten by China. And with that realisation, they have decided to change the rules and the game.

And during which time we were repeatedly told by American politicians that globalisation was wonderful and that we should just accept it.

By a billionaire no less!

The guy was running Cantor Fitzgerald. How unfair globalisation could have been to him, really?

We are 4% global population about 25% of global GDP, and they want to tear down everything that made America a success. We got wealthy by focusing on knowledge-based jobs away from manufacturing. The rule of law made our Treasury bonds cheap. But Manchurian Trump is doing the bidding of our enemy.

Ummmm.... so how's that going to work out for the billionaires who have financed Trump's (and the Republican Party's) rise to power, if their primary path to becoming billionaires in the first place is dismantled? The leopards are dying of obesity...

It did not fail him and his billionaire cronies!

Not every American became wealthy from globalization. Many were left behind, and they are fuelling the current MAGA movement.

It's shocking to see an American official saying globalization has been a "failure."

This is correct! The MAGA victimhood trope has served them well domestically but internationally I think it’s getting old.

Globalization fosters liberalism by its very nature and that might mean republicans would have to learn some pronouns which they can't seem to get there heads around. “Mediocrity knows nothing higher than itself; but talent instantly recognizes genius.” - Sherlock Holmes via Sir Arthur Conan Doyle

>said the chair, Adam Tooze

It's wild how we managed to waste so much of this wealth on a falling apart car dependency and excessive military.

EXACTLY!!!!!

Exactly!! How much bloody money do they want! It’s their corporations and wealth inequality that’s failed US citizens

classic ‘80’s anti-establishment propaganda 🥜

What these idiots don’t say is that the system never failed corporate predators & oligarchs: *it netted them trillions.* But they in turn cheated working class & 99%, profiteering while they were left behind. The conjuring trick is to make the patsy class not see this & blame instead scapegoats.

decades-long change that cannot be evaluated exclusively positively or exclusively negatively. In any case, excessive reliance on supply chains that extend to autocratic states obviously and unequivocally threatens security.

Didn't fail me.

Welcome e to our world we get this gaslighting 24/7 over here. 😒

they want everyone to love them for it because their mommies and daddies didn't

the limits on their power and authority they demand that they must be absolute and total and reality cannot and will not provide that

They've been doing it to poor Americans for decades. They want everyone who's not a billionaire to be beholden to billionaires.

Well, you won't have to worry about that for much longer.

They can fuck right off then.

It was also mostly Americans and American companies that were responsible for it

Even broken clock is right twice a day.

It's part and parcel of Trump's constant whining

Well said, globalization made America rich and powerful, isolation will quickly reverse that. The trick for the world, is to formulate the best plans to move on without America.

The fact that this bunch of bums is trying to sell this lie on the world stage is beyond insulting.

I think this is a variation on the motto of "modern capitalism is not about wealth but about control"

Basically "they hate us (regular people) for our freedom (any protections from their abuse)"

And to hear it from billionaires....

It's almost as if they are irritated with us because they squandered their opportunity. I think our govt missed an open goal when they could have blocked X due to credible threats of unregulated pornography which would have given US tech some indication of how this could play out.

I guess the fact that currently ~85% of Americans work in services which have largely been spared the wage pressure of globalization, and inequality is at all-time-highs makes me sceptical thta keeping tariffs high on China would have prevented a real-wage slide for the middle class.

bsky.app/profile/nmwi...

‪#KleptocracyByKakistocracy‬

Right off Putin's script.

Narrowly it is sort of a valid critique (the effect or globalism has been devaluing labor and shifting wealth to capital), their solutions are batshit and evil, though.

Yes, but the thing is it helped everyone including brown and black people and women and we can't have that.

They have become lazy- the BILLIONAIRES fed on tax cuts and stop innovation unless they can monetize - like billions or protect their wealth by obstructing innovation! Lying, disinformation peddling and minimizing - we see in climate change and with Covid 19 and Long Covid right now!

It also ignores the actions of private capital. Post WW II reconstruction was almost totally a US effort getting profit rates that were unprecedented. By 1973 it slowed to normal; that no longer was enough. Corporations abandoned the US and good sense to pursue them. Gov't followed their lead.

For that to be true, it can't be about the money, or the power, or the prestige. Perhaps they are looking for grace in the eyes of God. (Good luck with that.)

Yep. But not a single person will rearrange that fuckers dental work for saying it.

But entirely America's choice to be most unequal. They would still be most wealthy even if they chose to be more equal.

Absolutely fair. But also - The US has a huge wealth gap. Richest country? Sure. But pair that with a meager social contract, and demagogues who point the finger overseas instead of paying their fair share in taxes… Et voilà! You have our current political conundrum.

This will be heard in different ways by different audiences. The most important audience for Trumpers right now, though, is the hard core, Trump’s most ardent supporters. They want to be told they’ve been victims all along. They wouldn’t need Trump if they hadn’t been.

It's truly beyond belief. It's decadence, really. And ignorance coupled with malevolence, and really it's the unforgiveable aspect of all this.

there are no leaders in America. Just a psychotic fascists with dementia and his party of rubber stamps.

The "leaders" of the USA really are an awful group of petulant entitled children throwing a hissy fit because they have all the toys but still want more. It's sickening. The USA is an object lesson in what unbridled greed and exceptionalism do to a nation: disgusting, dangerous behaviour.

Were the US not the primary driving force behind that policy?

They will neglect and sacrifice everything simply because the last 80 years made (some) brown and black people able to achieve a basic standard of living and they simply refuse to accept that.

I often struggle to define gaslighting, but then an example comes along which illustrates it perfectly...

Especially when they have absolutely zero intention of limiting the global mobility of capital.

The Chinese AI image of fat Americans assembling iPhones comes to mind...

And it’s not as if they aren’t in favor of “off-shoring” as much labor as possible to AI now. Such hypocrisy.

A world order built by us to our benefit. And they want to pull it apart with no thought for what comes next. Carney sees the future clearly.

No, they just didn’t buy into the bs that tax cuts for the rich would trickleth down to the middle class from the heavens.

American became wealthy because WE BOUGHT INTO IT. Post WW2 culture and ingenuity and partnership all encouraged UK/Europe and RoW to spend spend spend. So talk of 'America spends more on NATO' etc, yes OUR MONEY THAT WE SPENT. But fuck that now and see the consequences. #BoycottBrandsUSA