JD Rockefeller said the man who bets against the United States will looze his shirt.
The author also discusses demographic trends at work throughout the world. Japan, Germany and Italy will be esp hard hit as will Russia. Notice the projection for Russia's population by mid-century.
MV
No link to the original article.
good - let’s hope so. Wasn’t too happy about China taking over...
Many things will have to occur for this to become true. First and foremost, and end to globalism. If we remain on our current path and continue to outsource manufacturing jobs, there is no way to regain our position as an economic powerhouse.
Sorry. The link can be accessed at RCP.com
MV
Hmm, hate to be a curmudgeon, but how will this happen if our government continues to spend as it does and debase our currency? Also, how many of those babies born here are born to illegal immigrants?
I hope this article is correct, but I wonder exactly how it will all play out.
Posted by Mike on November 12, 2007 11:46 PMDeclinism? Here we go again. Been there, done that. If I had a nickel for every time over the last 40 years I've heard or seen bloviations about The End of American Hegemony, I'd be as rich as Gates. Let's rewind the tape, shall we?
1968: US cities in flames, MLK RFK shot, Tet Offensive victory magically transformed into Crushing Defeat => The End of American Hegemony.
1973-1975: The American Hegemon reels under presidential scandal, inflation, the end of the gold standard => The End (this time, we REALLY mean it) of US Hegemony.
1979-1980: OK, we're not kidding around this time, this really is the end: stagflation, unemployment, interest rates >18% Japanese increasing market share in manufacturing, humiliation in Iran + Soviet Union on the march =>The End of American Hegemony.
1982-83: Hey, this ain't funny anymore. This is the end, honest: cruise missiles, arms race, SDI, Beirut humiliation, farm crisis, unemployment in the rust belt, A Nation at Risk + The Fate of a Nation => the End of American Hegemony and The Dawn of World War III. Run for the hills!
1990-92: Did I say Soviet Union? I meant Japan! The Japs are coming, and boy, is America ever screwed: Japanese juggernaut's buying up Rock Center and Pebble Beach and has Kidder Peabody, Atari and American Motors in its gunsights. Post Cold War-America's a pitiful musclebound giant, its Hegemony Soon to End.
1999: America, the paper tiger, about to unleash World War III in the Balkans, its hegemony On the Wane.
2007: Hey, did I say Japan? I meant China! End of Hegemony Time, buddy. Get ready, I can feel it in my bones.
Isn't punditry fun?
From the article: “House prices are falling in Spain, France, Ireland, the Baltics, and now Britain.”
So the housing bubble bursting IS worldwide? Is that what was summarized here?
Mr Rockefeller would be correct. We are and will stay the greatest nation on earth.
The people that are predicting economic Armageddon are similar to the global warming believers.
They both look at a small slice of time and are convinced that the future will follow the trend of that small slice of time.
Hey mad vlad! Is zat da saym thang as "lose his shirt?" I thought them Brits invented the King's English for Pete's sake!!!
The Fed has been hyperinflating the money supply at a 20% rate according to real data.
Let's hope that they are successful.
I didn’t know we had lost it....
bump
When did we stop being an economic powerhouse?
We’re still 25-33% of the world’s GDP (depending on who’s data you use), our economy is larger than the next 3 largest countries’ combined, our economy is larger than the entire EU (over a billion people) and we still outspend almost the rest of the world on military assets.
I agree with the author. One of the things we’re seeing with the “dollar decline” is a big uptick in the production of domestic goods, and as a result, more exports.