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Joined 1 year ago
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Cake day: August 8th, 2023

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  • Don’t they have many trillions in reserves?

    Right now China has about 3.2 trillion in ForEx of all kinds and currencies which means that this bailout represents nearly half of the total.

    ForEx is an extremely complicated subject, way too much for a single post, but it is essentially the lubricant for trade. If you don’t have enough of it in the right currency on an hourly (or less) basis to support your imports and exports then the machine will seize up.

    So what China is doing here is risky as hell and if it doesn’t work they will soon have the same kind of financial problems that Iran does and that is stupendously bad for an export based economy.






  • Every time they lost it’s because they relied on the left that didn’t show up

    The left DOES show up…but here’s the thing…there’s not enough of them to make a difference. I know it FEELS like leftism and even progressivism is super duper popular because its omnipresent on the internet but in the real world there just aren’t enough of them to matter for national elections outside of a few specific places.

    It’s like relying on an 8 year old to help you move furniture. You quickly realize that they just aren’t strong enough to do much.


  • Buelldozer@lemmy.todaytoMicroblog Memes@lemmy.worldThe gender wars continue 🥹
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    11 days ago

    but I am not.

    As the father of a Gen Z Son whose almost done with a degree in Chemical Engineering I can confidently say that you are wrong. There’s large numbers of intelligent, educated, and caring young men out there and it’s been my privilege to watch quite a few of them grow up.

    As a man over 50 I’m going to point out that if everywhere you go smells like shit then you need to check your shoes.