Decline of an Empire

As America is still reeling from the effects of the economic collapse of 2008, and spending is increased to record levels, many are becoming increasingly aware of the decline of America’s empire. This is not to be confused with the decline of America as a nation, rather it is a retreat from the imperialistic nature in which the U.S. has lived by since the end of WWII.

Financially, the U.S. cannot maintain a military that spends basically as much as the rest of the world combined. While we are spending 50% of our estimated tax revenues on the over-compensated military for offshore adventures, we have officials and citizens fighting tooth and nail against spending a fraction of that amount of money on improving our ever-diminishing health care system.

Being that we are the richest and most powerful nation on earth, how is it that we have so many domestic problems and so much opposition to fixing them. Of course it is largely attributable to our corporate state structure and the capitalistic principles in which our government lives by.

Also, without sounding too socialist, it is also due to the simple fact that the wealthy class doesn’t want to share and finds paying taxes un-American, because it contributes towards the betterment of the lower and middle classes.

There are many faults in our current system which are driving our time as an empire through a downward spiral, but instead of expounding upon the roads towards American decline, I will point you towards a more informed article about that very subject.  Taking Down America

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3 Comments on “Decline of an Empire”


  1. Dennis Kucinich is promoting a way to pay for all our needs by congressional spending of debt-free money into circulation HR 6550 of 2010.

    Kucinich should change his plan to leave fractional reserve lending alone. We need both kinds of money to prevent a bureaucratic monopoly that socialism proved does not work wherever it’s been tried.

    The rich need tenure in their wealth as much as the poor need wealth and then tenure too.

    With robots and automation, if we match money to potential output for sale, we can afford wealth and tenure for all. Not the same wealth — but sufficient wealth based on unions paid for the way we pay for fire and police — and on a more reasoned pay for people who get less than they deserve.

    People who get too much for no good reason can be ignored–to figure out how to limit wealth will cost more than its worth.

    People who get too much, like the richest in the nation, actually may serve a good purpose: they take out of circulation money that might otherwise have to be taxed away to prevent hyperinflation.

    • Greg Says:

      Abba,

      I Have read the bill and find it to be quite promising, if not overly so. Not being an economics major, I can only hesitantly suggest improvement for the bill.

      As for fractional-banking, I agree with you that it may be unwise to get rid of it entirely, as it provides funding for many businesses and other ventures. I would, however, raise the reserve amount to around one third. This would create much greater stability for the banks, but it would also allow for venture capital and other economic stimulants to exist.

      I find the proposal, “To create a full employment economy as a matter of national economic defense” as highly fantastical and naive. As you mention in your post, robots and automation are becoming increasingly prevalent in the workforce and are rapidly eliminating worker’s roles, and thus jobs. Added with the effectively irreversible trend of outsourcing overseas, I find it virtually impossible to create a full employment economy, as I understand it.

      An interesting topic brought up in the bill (sec. 2 [20]), states that:

      “A debt-based monetary system, where money comes into existence primarily through private bank lending, can neither create, nor sustain, a stable economic environment, but has proven to be a source of chronic financial instability and frequent crisis, as evidenced by the near collapse of the financial system in 2008.”

      This has been the subject of many a debate for many years, and has been brought up by many economists, intellectuals, and politicians (i.e. Ron Paul). The premise seems quite sound and I can’t seem to disagree with it, yet our country and others have seemed to live by just the opposite for the better part of a century. I am not sure how long our current system will last, though some believe we will just alter it, while others suggest that modern capitalism is dying.

      I can’t say whether your suggestion that people who get too much (i.e. Gates, Buffett) serve a good purpose for society as a whole or not, but I don’t agree with institutionalized tactics and movements that steal from the poor and give to the rich. That is why I don’t agree with Obama’s recent Bush-era tax extensions and other elitist policies currently in place. As stated in Chris Hedges new book, there is a class war going on right now and yet it is shunned by the media and other venues, as it’s a taboo topic.

      I subscribe to the idea that in the short run we will become closer to a two-class society (as we are doing now), but the populace will wake up and realize that they are being usurped and thus become more open to socialistic policies (i.e. universal healthcare, social security, etc.).

      Therefore, we will presumably end up repeating history, as the 1920’s was virtually a two-class society until the New Deal, WWII, and other factors created the booming middle class. We are heading towards a 1920’s-like society. In other words, we are going to have a “reboot.” Maybe this next time we will create a more stable economy not based on unsustainable systems.


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