Daily Times

You may read the title and question my style of picking linguistic attitudes. Let me convince you why you shouldn’t judge this book by its cover.

Trump, Trump, Trump: that’s all anyone’s ever talking about these days. An obsession with the former US President is another thing, but holding him accountable for his actions-both during, and after his presidency is an entirely different conversation.

With Republicans – divisive Republicans – in control of the United States House of Representatives, America is set to witness two years of stand-still and uncertainty, with an alternating effect of partisanship through different folds of government branches. Of course, uncertainty will remain-given that there are branches with power to grasp over.

Friday is the key date for Senate Republicans and the White House to deliver on the NDAA- a bill to be passed every year- to authorise the Pentagon funding for its yearly expenditures, including the money required for missions abroad. Democrats are also trying to push in the last details for a renewed spending bill before Republicans take over the House, by which they’ve promised to block the Biden agenda and cut funding for Ukraine.

Republicans limited budgets right before the holidays during Obama’s administration as well, but somehow they always pushed it through and titled it a “Christmas miracle.”

The price tag is usually high but the idea is timeless, given each state needs a national security budget. Now, this is nothing new. Republicans have been limiting budgets right before the holidays during Obama’s administration as well, but somehow they always push it through and title it a “Christmas miracle.”

If in case, Congress does not reach a deal by Friday, or even agree to a spending extension, Congress, along with the entire government, will face a shutdown until someone agreed on the price tag and the contents. The lights under the Capital Building will go off, literally. That’s why Republicans and Democrats strive to work day and night to make a working bill to prevent a dysfunctional and vulnerable position for the US Government.

This year, things are different. Trumpism is in play. That usually means that there is no room for negotiations and conservative spending is legislated. But now, Republicans are attempting something they’ve been trying to do for years. Hurt the Global Economy, along with the US economy.

The US has a debt problem, and a trade deficit that may seem – or actually be – volatile. But it is every year that the debt ceiling is increased to prevent the US to default on its payments. Now, adversaries may see this as a “Hooray” moment, which is heartlessness defined in a nutshell. However, this time, it affects them too–it affects all of us.

Traditionally speaking, the US would hike interest rates, which would create a preliminary inflation crisis. The stock market would greatly suffer and take the US to unchartered territory on ratings, and business activity in the region. But internationally, it could trigger a recession.

I’ve made it clear multiple times that a recession, inherited by Covid-19 is non-existent. But one brought on by an endemic of politics in the US is surely on the horizon. The US Dollar is known to be one of the strongest currencies in the world. Countries around the world pile up stocks to limit the extremity of a deficit, if one may arise. If the US Economy defaults, the whole world will see its credit market plunge, meaning that millions will be laid off from work, with tremendous losses accounted to one man controlling a weak party with a strategic position in one of the most influential buildings in the world.

Ironically, there is a nation that holds the largest amount of Dollar reserves: China-at approximately US$3,408 billion. Yes, it would affect South Korea, Japan, Pakistan, India, Australia, and the Republic of Ireland, but it would have the most severe effects on the Chinese economy, bringing exponential losses. This is the basic endgame of the GOP-to defeat China at its own game. The problem is such policies could prove as an Armageddon for many striving to live their lives and make a living.

Chinese economists may look at this moment and be optimistic. Sure, the world will require a new reserve currency. But there is little to no chance that the Chinese currency will ever take over, given its unfortunate policies to curb its own spending ties with the US. Pre-mediated hindrance of trade may cause both economies to see themselves exit the fight for influence, leaving no regulation and/or sense of achievement for “optimistic economists”

Poor countries in the region are already facing the heat of high oil prices and are desperately in need of aid. Imagine the richest country in the world requiring aid. This could potentially be a reset button for the Global Economy, eliminating the gains made in the past 20 years, and the measures it took to prevent 2009 from ever repeating itself.

The writer is a columnist and a linguistic activist.