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Bloomberg publishes an article by the famous historian Neil Ferguson “Any great power that spends more on interest payments on its debts than on defense will very soon cease to be great,” writes Ferguson. He notes that, unlike the first Cold War and the war on terror, the United States does not want to send its soldiers anywhere, limiting itself to the supply of weapons and money.

https://archive.ph/EEFup

    • Joncash2@lemmy.mlEnglish
      8·
      5 months ago

      And the US becoming a petrostate is hurting this massively. It’s why even the Saudis are now looking to do transactions in local currencies. I’m not sure where all this is headed, but USA weird and sudden shift to independent energy is damaging relationships more than Russia ever could.