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We been on the bottom of the list in education and healthcare for years. Our children are pretty much some of the dumbest in the world. Our higher ed is good. Our healthcare sucks too. We've been told the cancer breakthrough is around the corner. It has been repeated for decades. They don't want the cure. That have been many that have shown that it can be cured, but FDA comes after them.
BS. It happened when in 1967 the British Sterling was dropped as the worlds reserve currency, and the dollar was made the worlds currency.
That placed all the worlds debt, squarely on the backs of the American people, when Nixon declared us all Keynesian's, by dropping the gold standard.
The hidden tax, inflation.
The reason things cost more today than they did in the 1950's and 1960's, is inflation of the dollar, to pay the worlds debt.
Because of the inflation rates on the dollar, the rest of the world is also locked into our debt. They want out.
Remember "The Marshall Plan"? It is coming back to bite us.
This appears to be changing. In 2000 a minimum of 54-55% of world reserves were in USD, I believe. Maybe 71% allocated. Now it is like 60-61% allocated. Last year according to the IMF it is now under 33% according to some data. (end of 2013, 2014 Q1) EM countries share of reserves in other currencies has increased about 400% while developed nations has 200%. (Large amt described as unallocated also. Keep in mind this info is described as voluntary)
I have seen figures showing much less of a decline, but still significant. Lowest figure seems to show a decline of 10%-11%.
BS. It happened when in 1967 the British Sterling was dropped as the worlds reserve currency, and the dollar was made the worlds currency.
That placed all the worlds debt, squarely on the backs of the American people, when Nixon declared us all Keynesian's, by dropping the gold standard.
The hidden tax, inflation.
The reason things cost more today than they did in the 1950's and 1960's, is inflation of the dollar, to pay the worlds debt.
Because of the inflation rates on the dollar, the rest of the world is also locked into our debt. They want out.
Remember "The Marshall Plan"? It is coming back to bite us.
yes he did it but he had a lot of help. every time congress raised the debtg ceiling they were pounding nails in our coffin.
Raising the ceiling is necessary to pay the bills associated with prior approved spending. The trick is to stop spending more than we take in. That's impossible and the people would not stand for it. That leaves raising taxes and the people won't stand for that, either. So we keep kicking the can. At some point, the can will hit a wall forcing cuts and higher taxes.
For keeping your promise to your father of cutting america down to size.
CHART: Rise And Fall Of Modern Empires - Business Insider
It is inevitable. If not now, then later.
With that said:
Quote:
"As Alexander, Rome and Britain fell from their positions of absolute global dominance, so too has the US begun to slip," Reid writes in a new note to clients. "America’s global economic dominance has been declining since 1998, well before the Global Financial Crisis. A large part of this decline has actually had little to do with the actions of the US but rather with the unraveling of a century’s long economic anomaly. China has begun to return to the position in the global economy it occupied for millennia before the industrial revolution."
[reading comprehension must be on the decline, too]
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