how does that even happen? I am preparing for the worst. I think its going to get ugly. I’m envisioning a United States that resembles the movie “The Postman”. [/quote]
The US is not going to devolve into anarchy. It’ll just fade away like Portugal, Britain and all the other major powers have before.
There was a time where Portugal was poised to take over the entire world. After them, it was the Dutch. Next were the Brits. Then the Brits and French traded top spots for a few decades before Germany/Prussia took away the top spot for a few decades, etc etc.
The US will simply follow in this pattern. We are already in the midst of relinquishing the top spot to China right now. Every major power has it’s time at the top then fades into the background.[/quote]
While this trend is undoubtably true I wouldn’t be so fast to proclaim China as “next”. Lots of very smart people said that Japan was going to be the next major power in the late eighties.
Hell you can even make a case now that India is better poised to do so than China.[/quote]
True, we don’t really know who’s going to hold the mantle after we relinquish it. China, India or even a coalition of nations are all very good possibilities.
Do you guys think the US could change things and turn this around?[/quote]
No, the institutional inertia is simply too much. SS is broke, Medicare is broke, Medicaid is broke. Americans are broke. You can’t un-hit the iceberg.[/quote]
Here I have to disagree, I don’t think it will happen but things could easily (and painfully) be fixed. In fact one of the things people who decry the growth of government ignore is that the governemnt has “ownership/control” of an enormous amount of assets that are either not being utilized at all or are being underutilized. If spending could be reigned in those assets could aid in debt repayment.
Europe on the other hand is resource poor and so in a much worse position.
Another thing that inhibits both China and India is that they will never be able to feed themselves and that will limit thier growth significantly.