I'm sorry but do you really expect to be taken seriously after that statement? BusinessWeek? LOL. At least you said IBD instead of Wall Street Journal, but still, LOL. And you may want to check out Forbes in greater detail, they do have occasional articles that discuss the problems. Nothing too on point though, since it's not like the media & journalists have any real freedom in a society so heavily influenced by corporate & political interests. Seriously, go back and learn some history, basic math and try to pick up some common sense on the way. Also, basic reading comprehension is important as well, being that I never stated "the sky is falling". Nor do I believe it ever will, at least I hope not. The sky has been slowly descending for decades, and you do not need an economics degree to figure that out, just an ability to think for yourself. Maybe then, you will be worth having a serious argument with. That pretty much says it. The blind leading the blind.
Agreed, as any major government holding US treasuries and USD reserves has to face this on a daily basis. I wouldn't be so sure about that, at least not for the near term. There is no major nation or group of nations ready to take on USA's role as the driver for China's sweatshops and India's IT sweatshops (fraud and embezzlement IMO, but that's another thread). Europe simply does not have it and is only getting by due to illegal Arabs. In Russia, only Moscow has any real consumerism and on a small scale. USA has a consumer environment where even the lower class spends a portion of their income on gimmicks, brand names and toys. Because of the nature & power of major global corporations (at least half of which are US based), USA enjoys a unique position. While these corporations have no loyalty to any nation, US is where they play out most of their politics and hence, can influence foreign policy. There is only one nation that I can think of which has any true potential of replacing USA and on its own terms. It is self-sustainable, has no serious US gov and corp. involvement and is actually kinda at odds with US administration. But it's not ready. Definitely, and "slide" is the key word. I think the finale will be decided by the morale of the military. US armed forces are still no joke and no nation wants to deal with them or the technology. As long as the government has a firm grip on the armed forces, noone will make a serious move. Word. Well said.