9 hours ago For the unaware, Egypt is chronically short on foreign currency, which is probably part of why they're willing to do this even though America probably won't like it.

10 hours ago Good

11 hours ago Nobody is dropping the US dollar all at once. I would expect to see a continuing transition to other currencies over time.

12 hours ago China could probably raise even more debt than America. I'm just looking forward to number go up

10 hours ago Oh is it their turn to start attacking critical trade routes for no reason?

4 hours ago China's total debt burden is already larger than that of the United States and has long surpassed 300 percent of its GDP. The public debt accounts for more than 40 percent of the total debt, but has been rising sharply in recent years.

9 hours ago

China could probably raise even more debt than America

Literally why?

13 hours ago China and Egypt have agreed to increase trade and investment settlements in their local currencies, moving away from the US dollar.

A bit of a sensational headline.

8 hours ago I mean sort of a bit? But only if you skim the headline instead of taking in all the words in it and figuring out what they mean.

[–] narr1@lemmygrad.ml 7 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

I saw that. Went to check global debt-to-gdp ratios and the highest – Sudan– was at 272% but none over 300%, US at 124% and China at 88%. So complete horse shit being spewed. Though it might just be I don't understand what I'm reading.

[–] Maeve@lemmygrad.ml 2 points 2 weeks ago

Well Sudan is sanctioned, struggling but somehow surviving.

It would be lovely of an MBA could help us understand