The truth is now clear. America is the next major “civilization” which will soon collapse. The signs are everywhere.
First, the nation is so much in debt and at financial risk that its economic decline is inevitable. Debt, as documented elsewhere in this blog, is at app. $11 trillion and unfunded liabilities at another $43 trillion. Personal debt is now around $12 trillion. To survive past the recession, the Government will need to borrow more - probably another $3 trillion by the time we’re all done. To pay this down, the Government will need to both cut government services and increase taxation significantly. This will challenge the rationale of irrational government.
Second, the corruption now evident in the US is substantial – Bernie Madoff, R Allen Stanford rip off investors for close to $100 billion between them. US Military squander and steal large amounts of US government cash as part of their way of rebuilding Iraq (and then complain about corrupt government). The Bush Presidency systematically abuse the law in corrupt ways to meet their own needs – keep an eye on the future of Dick Cheney, former Vice President.
Third, through its self appointed role as a global policeman, the US chastises other nations – Iran, for example – for doing exactly what it does itself. One rule for them, different rule for the US.
Finally, the US is increasingly delusional about the state it is in – for example, believing that a stimulus package full of pork barrel spending will do anything about the recession or that the US can tackle climate change – and is in denial about the decline of its status in the world. The euphoria over Obama’s election will be short lived, as the depth of the recession deepens and key companies (GM and Chrysler, for example) collapse.
So, we will now start to see the steady decline of the American Empire. Watch this space.