I used to think it's impossible for the US to fail, and that it will always remain at the top of the list. But now I don't see it like that, I think for something to maintain it's position and growth there needs to be a reason. If there is enough reason then a flower will grow, else it will suffer and most likely die, if the flower gets enough sun light, water and necessary nutritions then we can say there is a high possibility that it will remain healthy, but once we fail to have good enough reasons as to why it will remain alive, it is then doomed to die. That is the whole story of this universe it's creation is much harder than it's destruction and it's maintenance is even harder than it's creation. Fail to maintain it or anything within it and it will start it's annihilation process. You can only walk so long proudly and with ignorance towards what you step on, till you eventually trip over or fall into something. This is not just america it's humans in general, they will pay for their disrespect. It is so easy to be a jerk, and so possible for everyone specially those with hardly any intellect. For humans to maintain their lives at a reasonable level, they need to be able to think, or at least have someone who can think for them, I can't say we have enough of those people to run this country or any other country, those with intellect could care less about the majority for the jerks they are, and those without just never want to change their attitude, they not only do not try but actually try to become more of an a**hole by each passing day and love to brag about it. Except for the US military might, which might not last for long, there is no one good reason why the US is able to maintain it's position and growth at a pace that will keep it above many others. I would love to hear that I'm mistaking, but unfortunately when you think about it, the odds of a failure are so much more than it's success.
Well, I don't think that the US can't be on top of the pack ... it's just that there is more equality and balancing going on. And let's face it - if China ever is spending as much (percentage wise) as the US on their military - the US probably will be dwarfed one day. The US can still continue to be the strongest economy, but it does some very good leaders and smart governing people to do that. Just face it - the smartest people do not become politicians - but the US electorate follows them blindly everywhere. Change is really difficult to embrace when it affects you negatively.
Define "failed." I would say the great Depression would qualify as this. Even "failed" economies continue in some form. Germany ahd like trillion percent inflation after WW1. They are a major economy today
Much like the Romans who lived much beyond their means, debased their currency through "coin clipping" and inflation, learned that maintaining a large and expensive military machine was just too much for their economy and empire to bear... they burned themselves out. The US is doing the same right now.
It was Nixon that unhinged the dollar from gold because he didn't like the discipline it imposed upon the US government. Governments like to conduct policy that results in inflation via excessive borrowing and spending. Now the $ is valued by a mixture of variables that have turned negative for the currency (inflation, relative interest rate differentials, spiralling funded and shadow debt ie medicare and social security obligations). Ultimately expectations matter. When global investors lose that ephemeral precious commodity "faith" then a real collapse ensues. If someone on these boards has the patience to put a timeline dollar plot against successive the Treasury secretaries comments on the $ it would make for an entertaining picture. "We support a stong dollar..." :eek:
US was bankrupt, it could not keep the illusion going anymore. Gold was being redeemed by foreigners at a rapid rate. What Nixon did was way overdue and far from the cause.
Bush-ville(s), USA, opening at a theatre near you! all over the country... no limit on how many towns can use the name .....