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Jack Kessler @jackkessler.bsky.social

A flourishing private sector, underpinned by regulatory stability, is where independent sources of wealth and power are created. Which is why despots hate it.

aug 27, 2025, 8:36 am • 2 0

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Jack Kessler @jackkessler.bsky.social

America under Trump is voluntarily(!) giving up:

The global reserve currency — the exorbitant privilege that keeps US borrowing cheap The power to impose financial sanctions — and have the world follow suit Outsized foreign direct investment Influence over global technical standards Foreign students — who fund universities and stay on to build tech unicorns Soft power (see: Coca-Cola, people all around the world walking around with ‘I ❤️ NY’ t-shirts)
aug 27, 2025, 8:41 am • 4 0 • view
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Jack Kessler @jackkessler.bsky.social

Sorry sorry but I keep thinking about this scene. Kirk: I sleep in a racing car, do you? Homer: I sleep in a big bed with my wife.

aug 27, 2025, 8:42 am • 2 0 • view
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Jack Kessler @jackkessler.bsky.social

But really, takes some doing to make the issuer of the global reserve currency look like an emerging market.

The dollar's relationship with US yields has broken down
aug 27, 2025, 8:45 am • 2 0 • view