"Every perception is to some degree an act of creation, and every act of memory is to some degree an act of imagination."
-- Gerald Edelman, Second Nature: Brain Science and Human Knowledge
5 Chapter 7: US-China Relations and Wars1 The Positions the Americans and Chinese Are InChapter 7: US-China Relations and Wars2020-10-18Journal1 The Positions the Americans and Chinese Are In2 The Positions the Americans and Chinese Are In3 The Positions the Americans and Chinese Are In4 The Positions the Americans and Chinese Are In
As I see it, destiny and the Big Cycle manifestations of it have put these two countries and their leaders in the positions they are now in. They led the United States to go through its mutually reinforcing Big Cycles of successes, which led to excesses that led to weakening in a number of areas. Similarly they led China to go through its Big Cycle declines, which led to intolerably bad conditions that led to revolutionary changes and to the mutually reinforcing upswings that it is now in.
For example, destiny and the big debt cycle led the US to find itself now in the late-cycle phase of the long-term debt cycle in which it has too much debt and needs to rapidly produce much more debt, which it can’t service with hard currency so it has to monetize its debt in the classic late-cycle way of printing money to fund the government’s deficits. Ironically and classically being in this bad position is the consequence of the United States’ successes that led to these excesses. For example, it is because of the United States’ great global successes that the US dollar became the world’s dominant reserve currency, which allowed Americans to borrow excessively from the rest of the world (including from China) which put the US in the tenuous position of owing other countries (including China) a lot of money and which has put these other countries in the tenuous position of holding the debt of an overly indebted country that is rapidly increasing and monetizing its debt and that pays significantly negative real interest rates to those holding it. In other words it is because of the classic reserve currency cycle that China wanted to save a lot in the world’s reserve currency, which led it to lend so much to Americans who wanted to borrow so much, which has put the Chinese and Americans in this awkward big debtor-creditor relationship when these wars are going on between them.
1 The Positions the Americans and Chinese Are In
2 The Positions the Americans and Chinese Are In
3 The Positions the Americans and Chinese Are In
4 The Positions the Americans and Chinese Are In