alt Hacker NewsBut unlike in the old days, US wins from higher prices. Even consumers wins (because they make more money on average, and their imported goods are cheaper because balance of payments shifts in US favour because of oil exports).
Voters are furious because of psychological factor of gas prices (purely psychological, it has nothing to do with economy or people's purchasing power). It bites politician's asses real hard.
So, Trump undermined himself by launching that war - but others are fine.
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Do they make more money on average? Does any additional income cover the increase in cost of living? Becoming psychologically poor is much harder than becoming psychologically rich. I doubt that balance of payments goes anywhere near your average Joe’s pocket.
No, because the US are the slowest to electrify their grid and transportation.
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All of that depends on the strength of the Dollar, If the US is to deindustrialise as it aims too it needs a weak dollar. Secondly theres the Petro-dollar which depends on the Middle East states Reinvesting their profits in the US to keep the dollar strong I don't know if you checked but I don't think they are going to be making any money in the near term. So looks like the dollar will be falling anyway. Further to that there is the global debt system which largely relies on buying US treasuries if countries get squeezed by the coming inflation, theres the chance these get dumped on the market and if that happens I believe the term is "Well, Fuck."