“. . . for the last seventy years, the US dollar has been the world’s dominant reserve currency. Make no mistake—as US power shifts, so will the dollar’s reserve status. And this changes everything.” – S Black
Bangkok, Thailand ~ Only hours ago, Gallup released a new poll showing that only a small minority (just 17%) of Americans still view the US as the world’s economic superpower.
Echoing former US Treasury Secretary Larry Summers’ quip, “There is surely something odd about the world’s greatest power being the world’s greatest debtor,” it appears that economic reality is finally beginning to set in for Americans.
Yes, it turns out there are consequences when you habitually indebt future generations in order to buy bombs, drones, and body scanners.
There are consequences when you regulate every aspect of society, from how much people can earn on their savings, to what they can/cannot put in their own bodies.
The decline of the United States as the world’s dominant superpower was always inevitable. No nation or empire can hold the top spot forever.
History is full of examples of once-dominant superpowers that have declined (and even collapsed altogether).