…the real problem is not Iraq. The problem is America. The problem is that 80 percent of Americans believe that their country is on the wrong track, and 75 percent do not believe that the economic situation next summer will be better than it is now. The problem is that of General Motors. The company’s value is now a fraction of Toyota’s. The problem is that Chrysler is on the verge of bankruptcy, Starbucks is in trouble and the Dow Jones is in deep trouble. The problem is that the budget deficit is out of control, the national debt is irreparable and the dollar is worthless. Something about the way the Americans do things is not working. Something is not as it used to be.
Three Rottweilers are now at America’s throat: very expensive energy, badly shrinking credit and a collapsing real estate market. Uncle Sam is bleeding because his dependence on energy is greater than that of other countries. His addiction to credit is more serious than that of other countries, and he is very exposed to the bursting real estate bubble. Cheap energy, cheap money and accelerated construction rescued America from the collapse of the Twin Towers and the high-tech crisis at the beginning of the decade. They enabled America to celebrate as though there were no tomorrow and no bill to pay.
But tomorrow is here. The bill is steep.
The bottom line is cruel and profound: The American century is over. The 40 years (1945-1985) when America was the exclusive leader of the free world are over. The 20 years (1986-2006) when American was in effect the sole superpower are over. The era of imperial America, which dictated the world agenda, is over.
Reports of our demise are premature. America is going to grow up, we may hope, and therefore grow beyond a boom-or-bust culture. I can only hope that in its maturation it does not become like Europe. L
“Obama is 2008’s desperate hope to repair America?”
Did he not just say that our addiction to credit is part of the problem? And the Democrat Nominee’s plan includes what? More spending and an unbalanced budget? Yeah, that will help.
What a bunch of sensationalist bunk. I have traveled and lived internationally for many years. Despite our current difficulties, USA is still by far the greatest nation in the world. People are still trying desperately to get in. We will survive this and be stronger for it. Obama would be a disaster of epic proportions and make thing worse, not better.
You’re certainly correct, #2,3. Obama cannot see to engender the sorts of change that are needed and what change he could bring, might well foster moral degeneracy more than recovery. For example it will be interesting to see if, now that Planned Parenthood is endorsing him, he takes any notice at all of the survivors of abortions who are in Newport Beach trying to get his attention on the moral injustices of his past stance on this matter.
One wonders if Ari Shavit, like so many, has dual Israeli/American citizenship and can thus also vote, as well as write, to influence the outcome of Nov. 2008.