Look, the global economy is quite simple. The World produces worthless Stuff that they cannot consume. They bring it to America, which happily gives them valuable Dollars for their worthless Stuff. The World then smirks to itself, imagining it has hoodwinked those American rubes.
However, on their way out the door, the World has an epiphany: their Dollars are so valuable they cannot risk bringing them back home, because everyone will realize how much cooler they are than their local currency and demand Dollars instead, collapsing their economy instantly.
At that exactly moment, Chad Laxbro from Wall Street shows up and tells them about his new fentanyl-backed subprime securities that will keep their Dollars safe and sound in America. Enthralled by this intellectual titan, they all hand over their Dollars and leave empty-handed.
This process repeats for several years, until Chad's bonus vests and he sends the World a NAV pack showing that SOMEHOW they lost ALL their dollars, wow what a shame. America now gets to keep both its Dollars as well as the Stuff, and nobody else in this story matters. The end!
You can follow @quantian1.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled: