Will 2013 Mark the Beginning of American Decline? - Bloomberg: "So while no country will rise up to take America’s place as the world’s leading economy, its global position is indeed threatened -- by its own reluctance to have an honest conversation about the federal budget and by the unwillingness of its political leadership to confront powerful interests on Wall Street. Sooner or later, it will be America’s turn to fall out of favor with investors and to see its own interest rates rise. It is hard to know when that day will come, or precisely what pressures the country will face. Let me only venture one forecast: We will not be ready.
(Simon Johnson is a professor at the MIT Sloan School of Management and a senior fellow at the Peterson Institute for International Economics. He is co-author of “White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You.” The opinions expressed are his own.)"
Read the full article above for more. I disagree with the author on one thing. The beginning of American decline began with the administration of George W. Bush--what a disaster: 2 wars (1 completely unnecessary), vast expansion of government and government spending, government incentives that led to creation of economic bubbles and subsequent crash, lack of oversight, deficit spending, complete lack of discipline, stewardship, and wisdom--the most important ingredient of governance.
Tweet Follow @johnmpoole
The Big Picture
Financial Crisis - The Telegraph
JohnTheCrowd.com | The Sailing Website
Craig Newmark - craigconnects
- ► 2015 (131)
- ► 2014 (368)
- World is right to worry about US debt
- Police, Not Prisons, Cut Crime
- The History Trap
- This is why there is no tax reform
- £1bn Google London headquarters
- Obama still cleaning up the George W. Bush mess
- Another shooting victim in America's murder capital
- Lawmakers slam DOJ prosecution of Swartz as 'ridic...
- Lofgren to introduce bill amending hacking law in ...
- Davos and the broken Western state model
- Santa Clara County economy best performing
- Government's Biggest Tax Bite
- The Beginning of American Decline?
- Windows 8 Is a Massive Microsoft Fail
- 2012 Election not a Mandate for either Obama or th...
- How Low Will Microsoft Go?
- Social Security - Why It’s Worse Than You Think
- Obama Administration's "Finest Hour"
- What is Driving US Health Care Spending
- Microsoft sweating the assets?
- Health Care Costs Driving Deficits
- Vitter: Harry Reid "an idiot" for Katrina comments...
- You gotta problem with Hagel or Brennan?
- Apotheker's Legacy of Wrecking HP Continues
- Antitrust, Politics, Economics
- Google Has Learned The Ways of Washington--Governm...
- The FTC, Microsoft and Google
- 2013 Ford C-Max Energi -- Car of the Year!
- FTC Announcement Concerning Its Investigation of G...
- 13 Predictions for 2013
- 2012 Losers in the Political Realm
- What you should know about the fiscal cliff deal
- Way to Go Microsoft! -- Windows 8 Adoption Rate Tr...
- ▼ January (33)
- ► 2012 (423)