Archive for June 7th, 2011

America’s cultural decay, structural weaknesses, and reliance on foreign investors signify an empire at the zenith of its power, much like Rome in 200AD or Great Britain on the eve of WWI.

Housing prices have now fallen 33 percent since the peak, which is bigger than the 31 percent slide during the Great Depression. About 45 percent (6.2 million) of the nation’s unemployed have been out of work for more than six months, also a higher percentage than during the Great Depression. On top of that, more than 1 million of the chronically unemployed have used up their unemployment benefits, “leaving them without the money to get new training, buy new clothes, or even get to job interviews.”

The U.S. is facing some serious problems:

  1. one in six Americans receive government food stamps,
  2. the budget deficit is over 60 percent and rising, which historically has run an average of 35 percent. Because the country has a low savings rate, investors from China, the Middle East, and elsewhere are needed to finance much of the debt. Foreign investors are worried the U.S. will inflate away much of its debt, leaving their investments in Treasury bonds and other instruments less valuable, and “that would mean increasingly high interest rates to attract investors, destabilizing the U.S. economy and hammering real estate.”
  3. the nation’s military is spread too thin throughout the world; there’s a widening gulf between rich and poor; and far too many Americans borrow money to live beyond their means.
  4. the rot has set in:  homosexuality is pervasive; pornography is rampant; the rule of law is maligned and ignored; violent crime is at high levels; and there’s an epidemic of obesity.

Although America came through the Great Depression a stronger nation, Americans back then were made of a different metal. Their faith in the God of Abraham, Isaac, and Jacob and in the democratic republic and Constitution established by the Founders made them stronger and more resilient.  For the nation to survive, Americans must put aside their technological toys long enough to rediscover the qualities that originally made the Greatest Generation great.

I.M. Kane

For more on the story, see the Decline and fall of the American empire and Chronic unemployment worse than Great Depression.

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