History has taught us that empires rise and fall, and this cycle has been going on for millenniums from the Babylon Empire around 600BC to the more recent British Empire. The official fall of the British Empire was immediately following WWII when most of their global colonies where able to break away. Many can site the British Empire collapse started following their defeat in the American Revolution. This too signaled the start of a new global power – The United States. Ironically, the height of the American Empire was after WWII at the climax of the industrial revolution. However, like any empire that has endured global domination, it comes to an end. Thus, like the Greeks and Romans before us, the United States’ role as the world’s most prolific economy is nearly over, and here’s why:
•One reason for the collapse of world powers such as Russia, in the 1980s, is due to financial ruins. The United States is massively in debt and this debt cannot be sustained. The only recourse to correct the debt is massive tax increases that will cripple individuals and businesses. The decline in the value of the dollar and our treasury bonds; will come at the expense of currency gains by world powers such as China. To make matters worse, China owns a large portion of the U.S. debt, which is leverage that they use to control American economic interests.
•The United States dependence on foreign oil is a major reason for our massive trade deficit. World powers export more than they import, not vice versa. Sending money to other nations only makes them stronger, while weakening the economy at home.
•The current generation of Americans is weak. They not only receive government assistance for bailing out their poor decisions, they expect it. Personal responsibility and accountability are things of past generations. Meanwhile, social entitlement programs that many present day Americans count on for survival account for over 50% of our budget and growing at a rate of well over 7% per year. These programs are not sustainable and are forcing us further into debt.
•The rise in popularity of progressivism and socialism within the United States is crippling the private sector, while at the same time giving more power to the federal government. Unions and carbon emission policies are excellent examples of progressive ideas that are crippling U.S. industry and forcing jobs overseas. Liberals with superior intellect and egos dominate our educational system and indoctrinate our youths with propaganda that capitalism is evil and socialism is the greatest achievement for any nation. These same progressive educational leaders however, have never worked in the free market and have absolutely no business acumen on how to run their kid’s lemonade stand.
•Wars and the fight on terrorism are working to spread our military resources very thin since it is a global battle. Islamic extremists do not have win these wars against the United States; they merely have to drag them out for decades. This will have a negative psychological impact on all Americans polarizing liberal and conservative factions even further. At the same time, global wars will force the federal government further into debt because military expenditures are spiraling out of control. Let’s not forget that many great empires collapsed due to the fact their militarily was stretched to thin.
•The American educational system is in shambles while those in developing world power nations, such as India and China, are generating great business minds. In fact, many of the best students in developing countries are educated in the United States and they bring this knowledge back to their countries to create businesses to compete and ultimately succeed against American corporations.
America may still be a great country, but it is being replaced by China, India, Brazil, and even Russia, which is making a comeback, as the leading economies around the globe. This should come as no surprise since federal policies that promote mediocrity in education, trade, monetary policy, private sector businesses, and social policy are crippling our ingenuity and therefore, forcing the United States to be a second rate nation.
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