“After 500 years of exponential divergence, the western civilization –United States is now coming to an inexorable decline or end, in a state of collapse.”
After 500 years of exponential divergence, the western civilization –United States is now coming to an inexorable decline or end, in a state of collapse. Western countries are the ones most heavily indebted to the developing world; in the case of the United States, debt is financed through inflation and by China. As a rising economic power, China has become the world financial banker, with income levels about to far exceed that of the United States, financing the excesses of an affluent industrial society –the West.
According to Niall Fergusson, in his speech at the Chicago Council on Global Affairs, the West has a virus that is running a horridly slow death and needs to reinstall the 6 “Killer Apps”: the importance of competition, the scientific revolution, the rule of law, modern medicine, a consumer society and a strong work ethic. The United States once led the way toward great wealth, progress, and innovation in the world through empire building. Now, the west –United States has lost confidence in the very tenets that build its foundation: liberty, self-reliance, frugality and hard work. America faces the risk of a cataclysmic drop in the global markets, and their diminished role of the US dollar as the world’s reserve currency.
The establishment of the Bretton Woods system allowed America to benefit from “exorbitant privilege” and have a strong dependency on the global market. The United States borrowed cheaply, selling its assets in return for goods, mostly from China. The emerging country used this trade relationship to their advantage; where the firms, households, and government saved more than they were willing to invest at home and played this surplus economy game for a very long time, according to the Economist. Lester Brown at the Earth Policy Institute stated in 2006, “If China’s leaders ever become convinced that the dollar is headed continuously downward and they decide to dump their treasury holdings, the dollar could collapse.”
American ignorance and the stupidity of their politicians fail to realize the unforeseeable consequential effects of having a “deficit democracy”: deficit spending upholding a society based on consumerism from the brink of collapse. Corporate monopolies treat the hard working middle-class as commodities and outsource American jobs abroad. The American Dream of everyone being able to afford his or her own home and have a steady job is an illusion. Even the educational system is on a steady decline due to a lack of competitiveness from both the public and private sector, the funding of charter, magnet, and private schools. The development and innovation of sustainable technologies is non-existent, here, inside the United States. According to EPI, “the solar cell and wind turbines, invented at Bell Labs in 1954, is an American technology; the U.S. effort to develop solar technology is so weak that Japan and China forged ahead and developed a robust solar cell manufacturing and export industries.”
With the rising cost of oil —globally, the U.S. continues to consume with abandon, undermining their economic independence. If America doesn’t remain the symbol for democracy, economic freedom, and scientific innovation, collapse is unavoidable. The West will be forced to change strategy, and learn to adapt to the emergence of the developing countries that has shaken the world. They have downloaded the “Killer Apps” and China is in the process of upgrading. To restore discipline and values that once made the United States a great nation, a nation the world admired, respected, and emulated, is something only the American people can do. America has been asleep in a dream and it is said that the awakeners are thought to be master planners.
“They tell you we are dreamers. The true dreamers are those who think things can go on indefinitely the way they are. We are not dreamers. We are awakening from a dream, which is turning into a nightmare. We are not destroying anything. We are only witnessing how the system is destroying itself.” – Slavoj Zizek
Guest Post on Sapience film: “The disease is Ignorance, the symptom is collapse, the remedy is wisdom.”