John > the ability of the US to create unlimited debt enables everyone to do "well", including the US, the world's major debtor? Do you really believe this?
Yes, I do. In fact, I thought a great deal about it when I wrote it. In fact, after some deliberation, I put "well" in parenthesis because the notion of what "well" means is really quite subjective. Clearly, with the policy of "globalism", things are becoming very hard for the average American and, in fact, I read many articles about it. But, I have no doubt that corporate America, is becoming even more wealthy, more powerful and decidedly more ruthless. It is also more ambitious and more dishonest. Further, as I see it, the policy of globalism is merely the "soft" part of the pax Americana, the new American empire --- the attempt of the winners to take all --- everywhere.
It's also clear that many countries in the rest of the world, particularly the East, are also doing well and one can have no doubt that, directly or indirectly, this is because of the deliberate policies of a succession of US governments. Perhaps this was inevitable and the US had no choice. That may also be true. But, as far as I am concerned, there is definitely a two-way-street in operation here. Those countries which sell goods to the US and buy its debt are, in fact, the ones which are doing well. So, one has to ask oneself what one is looking at? And indeed, is the US really weakening itself in favor of developing other nations? Or, is this some kind of partnership or economic colonization with the US the dominant partner?
I know others would say that the US is in serious trouble, is living beyond its means, has borrowed more than it can repay, and is "growing" only as result of the the jobs it exports and the cheap goods it imports. And, I would agree with that, too. So, there is a dilemma, a contradiction, if you will. Is the US doing "well" or "badly"? However, I believe there is a further question one has to ask before one asks that one and that question is, "What is the US?". In fact, the US has become a myth.
Thus, I believe the US is doing "well" but whether all or even most of the American people will benefit in this "wellness", that's something else entirely.
> is this just a matter of time frames and you really mean 'so far'?
No, not that. I'm sure the difficulty you have in accepting my hypothesis is because you are American and therefore view the US as a geographic and national entity, as most people do, and as we are supposed to. Clearly, economically, that is no longer true. Thus, the physical entity which is generally known as the United States may not do "well" at all but the abstraction known as "Corporate America" will go from strength to strength --- like a giant Tyrannosaurus rex which just eats and eats and, for the while, resides in North America. |
