The main narratives I see on FinTwit and mainstream media outside the USA in this context is how the USA is bullying other nations (which it is), the dangers of the Woke movement (unfortunate), the debasement of the USD (occurring as we speak), etc.
The main problems with these narratives - which are admittedly compelling, on the surface - is that it's a relative game.
These narratives are somewhat true if one only looks at the USA in isolation. When viewed in a global context, this changes.
Whatever problems the USA has, other countries have it worse. USD is being debased by inflation, yes, but the other major currencies are faring worse.
Euro, sterling, yuan, etc. are having more problems and overall falling faster than the USD (in purchasing power) over the longer term time frames. The ruble (rubble) is not even worth mentioning at this point.
Let's not forget that in late September/early October last year, the USD tested the 111 to 115 range and it was around that time (a bit before, from what I remember) that the BOJ had to increase its YCC (still doing this), the BOE had that gilt disaster, and of course the fabulous ECB while loudly proclaiming to raise rates to "fight inflation" is quietly buying the bonds of the weaker southern countries. The PBOC was easing frantically.
It is no coincidence, perhaps, at that G7 meeting shortly after, the word I heard from some insiders was that a big part of the discussion behind closed doors at that time was to ask (beg) the peeps at the Fed/Treasury to let the USD go down a bit.
The global economy will basically crash if the USD goes up too much, too quickly (imo, we came pretty close last year when the USD was near 115).
Although the USA's MIC has weaponized the USD, it doesn't want to kill all its vassals, merely remind them who is the boss.
A very high USD will crash the global economy - you prolly understand how the eurodollar debt system works - and the USA doesn't want that.
As top dog and global hegemon, the USA doesn't want to kill its vassals - simply whip them a bit every now and then to remind them who's boss, and keep them working hard.
The GWS (USA MIC) has always been in charge, imo ... nothing really new here.
Governments and their institutions are always full of parasites, whether it's the USA, Canada, EU, Russia, China, etc.
If you talk to people who live in places like Russia and China (I still do regularly, btw), a lot of the young people there who have a significant part of their lives ahead of them, if they got a reasonable, realistic opportunity, would jump at the chance to immigrate to USA, Canada, Australia, Germany, U.K. etc.
Now, you can say they're making a wrong decision, but at the end of the day, peeps vote with their feet and money. As always, talk is cheap.
Young peeps from Russia, China, etc. still want to go to the West, if possible.
Not many Westerners are dying to immigrate to China or Russia on a long-term basis, apart from Snowden.
You mentioned some cognitive biases.
Another big one is that peeps often confuse what "should" happen with what will actually happen.
Is the GWS doing terrible things? Is it wrong? Probably, to both. But that doesn't mean things that "should" change _will_ change.
In the realms of power at the global level, the hegemon is notoriously hard to displace.
Btw, interesting stuff happening in Sudan ...
