Wow sarnian,

you built an Ark while all the other leftie global warmers were telling everyone that the earth was in the grip of terminal drought?

Astonishing and now others are thinking of doing the same. Are you all expecting God to do his Noah deluge again? What happened to global warming?

James O'Neill wrote:

>>One should also be mindful of the fact that US global hegemony owes a great deal to the US$ being the world's sole reserve currency. When that ceases, as it inevitably will sooner rather than later, the US empire will crumble as all empires before it have crumbled.>>

I have what I used to think was a contrarian view of that. I think that owning the world currency has caused America immense damage and that the emergence of credible competitor currencies would be the best thing that could happen to the US.

To my surprise it turns out that a number of economists agree with me. Losing ownership of the only world currency would be the best thing that could happen to America.

You've given me an idea for my next piece, provisional title:

HOW OWNING THE WORLD'S CURRENCY HAS DAMAGED THE UNITED STATES.

Thanks.

You wrote:

>>After graduation they [foreign students] return to their own countries to use that knowledge in their own countries' interests, which are not necessarily the same as the US interest.>>

Some do. Many don't.

The Chinese government is actively trying to persuade Chinese graduates who have settled in the US to return to China. The fact that they have been offering $158,000 indicates that the Chinese Government sees a problem in this respect.

More to the point most foreign students express a desire to stay for at least a few years after graduating but fear they will not be able to get a visa. In fact difficulty in getting a visa seems to be a factor in many students returning home straight after graduation.

To re-iterate several points:

--This is not about whether you like or hate America. It's about whether China, under the present regime, will supplant the US as the world's number one. Your hatred or admiration for America will not affect the outcome any more than barracking for the Demons will get them a grand final victory.

-- America's worst enemy is America

imajulianutter;

"Arc"= "lifeboat".

"Are you all expecting God to do his Noah deluge again"

I do not expect a figment of the religious masses imagination to do anything. How could I when I do not need a crutch or believe in it?

Dear Steven,

Thanks for the article. Interesting reading.

Do I think the US is in decline, yes. Is it irreversible, hopefully not completely.

But there are two indicators you have not mentioned that really have me questioning its chances.

The first is the obscenely high number of people those in power are forced to incarcerate in the US, at a rate higher than any other nation in the world, to keep their society functioning. Russia comes in second but at a rate 20% less than the States. Australia has a seventh the rate.

The reintroduction by default of debtors prison will only serve to march these figures substantially higher.

The second is one we can take from history. It is claimed by some scholars that the real decline of the Roman empire set in around the time of Commodus.

“In the view of Dio Cassius, a contemporary observer, his accession marked the descent "from a kingdom of gold to one of rust and iron" — a famous comment which has led some historians, notably Edward Gibbon, to take Commodus' reign as the beginning of the decline of the Roman Empire.” Wikipedia

Here we have the first Roman Emperor ever “born in the purple” reigned after his father (see Bush Snr – George W), dramatically undermined the economic viability of the Empire (see George W) and once he left saw the military selling off the high offices to the highest bidder (see military/industrial complex legally bribing politicians).

Okay this one might be a little fanciful, but not completely without merit I would have thought.

Good to read the economic facts pointed out in Steven’s article.
I found it interesting. Economics can certainly play an enormous
part in the decline of powerful countries. However so can cultural
Shifts.

The economics can remain powerful but be taken over
by cultural demographic shifts. If the new controllers of the economic
power and weaponry are more barbaric and more inclined to use nuclear missiles, then the fact that there is economic power and huge devastating military power can make the fall dangerous and unpredictable for the world as a whole.

Steven Meyer,

At least half the commenters here appear to be missing the point entirely-too busy with their own agendas. Oy vey!