The American Empire is in decline. Chris Hedges writes that the signs of decay are everywhere:
The U.S. economy is being drained by wars in the Middle East and vast military expansion around the globe. It is burdened by growing deficits, along with the devastating effects of deindustrialization and global trade agreements. Our democracy has been captured and destroyed by corporations that steadily demand more tax cuts, more deregulation and impunity from prosecution for massive acts of financial fraud, all the while looting trillions from the U.S. treasury in the form of bailouts. The nation has lost the power and respect needed to induce allies in Europe, Latin America, Asia and Africa to do its bidding. Add to this the mounting destruction caused by climate change and you have a recipe for an emerging dystopia. Overseeing this descent at the highest levels of the federal and state governments is a motley collection of imbeciles, con artists, thieves, opportunists and warmongering generals.
And, as with all empires, the end will come quickly. Hedges quotes Alfred W. McCoy:
“The demise of the United States as the preeminent global power could come far more quickly than anyone imagines,” McCoy writes. “Despite the aura of omnipotence empires often project, most are surprisingly fragile, lacking the inherent strength of even a modest nation-state. Indeed, a glance at their history should remind us that the greatest of them are susceptible to collapse from diverse causes, with fiscal pressures usually a prime factor. For the better part of two centuries, the security and prosperity of the homeland has been the main objective for most stable states, making foreign or imperial adventures an expendable option, usually allocated no more than 5 percent of the domestic budget. Without the financing that arises almost organically inside a sovereign nation, empires are famously predatory in their relentless hunt for plunder or profit—witness the Atlantic slave trade, Belgium’s rubber lust in the Congo, British India’s opium commerce, the Third Reich’s rape of Europe, or the Soviet exploitation of Eastern Europe.”
Most Americans -- and, most importantly, the current president -- are clueless about what is happening. They huff and puff in collective self delusion as their future gets darker:
For the majority of Americans, the 2020s will likely be remembered as a demoralizing decade of rising prices, stagnant wages, and fading international competitiveness,” McCoy writes. The loss of the dollar as the global reserve currency will see the U.S. unable to pay for its huge deficits by selling Treasury bonds, which will be drastically devalued at that point. There will be a massive rise in the cost of imports. Unemployment will explode. Domestic clashes over what McCoy calls “insubstantial issues” will fuel a dangerous hypernationalism that could morph into an American fascism.
This is the way their world ends.
Image: wwwviralthread.com
