Has capitalism failed?

Oct 7, 2009 15:49 GMT-6	#41
BOBERT Points: 600 Join Date: Jan 1, 2009 Status: Offline	I agree with you Seth that everything is cyclical, including world dominance. Superpowers come and go. They grow slowly, but invariably collapse very quickly. The writing is on the wall for America and time is running out. America has become a bloated caricature of what it once was. America is racked with an insurmountable mountain of debt yet cotinues to borrow at record levels. When the worlds solvent prudent nations either refuse to lend more deciding America is a lost cause, or demand an interest rate commensurate with the risk, America will implode. America has become an artificial bubble economy based on borrowed money. Without that borrowed money continuously pouring in at unprecendentd levels American asset prices will fall and the entire system will collapse. The collapse is not yet inevitable, but it's getting dangerously close. Years of living beyond it's means, ordained by a succession of short sighted administrations unwilling to face reality will severley test the "American systems" ability to prevail. Personally, I doubt it can.

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