Sarah Paine
๐ค SpeakerAppearances Over Time
Podcast Appearances
And we're going to raise tariffs and things.
And all we do is tank the global system.
Whereas if you're the lender of last resort, you're going to put money into the system as it's collapsing to prevent it from collapsing so that it can rebound.
And that's why it's important to do that.
And yeah, it's expensive.
But boy, Great Depression is a lot more expensive.
So there are different problems.
Isn't that the problem?
Well, that's what the IMF and things are about.
But it used to be that this country was willing to take on these burdens of last resort in the area of nuclear weapons, nuclear shield, right?
And we're trying to shed these things right now.
And we shall see.
Well, at bare minimum, it'll make us the sort of the irrelevant power instead of the essential power because Europe is going to
reorganize itself.
And they have the institutions to do it.
And the United States used to be the leader of the West.
Well, it's going back home to Europe.
Europe's going to lead the West.
They invented it.
And they have an extensive set of institutions to do this.