The American economy is much more vulnerable than anyone will admit publicly. Consider that America has borrowed trillions to finance deficits for two lengthy wars, homeland security and a major bank bailout. Consider that the free ride its currency enjoyed as the global petrodollar is coming to an end. Consider that US corporations have outsourced nearly all manufacturing jobs, and are working hard on exporting the remainder. Consider that corrupt politicians on both sides of the aisle worked hard to bankrupt its citizens with exploding health care costs. The medical system is so focused on profit it charges twice what any other country does, and provides outcomes as measured by IMR (Infant Mortality Rate) that rival Cuba’s, 42nd in the world. Consider that there are only feeble new regulations to prevent a repeat of the banking collapse that triggered the current recession. The price of gold has climbed to new heights which reflects a lack of confidence in the US dollar. The US now has two technologically and economically robust competitors: China and the European Union. Much like the British in the sunset of the empire, out of patriotic blindness, Americans love to pretend that nothing has changed and the USA is still the one and only superpower.
~ Roedy (born: 1948-02-04 age: 64)