Reply #7: Yes it did [View All]

[davekriss]

At the start of the Reagan administration we owned 3.7 times more of the rest of the world than the rest of the world owned of us; by the end of his second administration the rest of the world owned 0.8 times more of us than we owned of them. (Source: Benjamin Friedman, Day of Reckoning: The Consequences of American Economic Policy Under Reagan and After. Mr. Friedman is the William Joseph Maier Professor of Economics at Harvard University.)

Things continued to get worse, even through the Clinton years, to the current disaster. The U.S. is rotting out at it's core, just like all over-extended hegemons throughout history. Hold on to your hats, folks, as the end is not likely to be pretty. It was a collapsed economy, rampant inflation, and social insecurity that saw the rise of Hitler in Germany. What will our current circumstances bring forth? A last violent thrust forward of neo-liberal imperialism?

Say "Iraq" everyone...!