Since the Western media have caught a “revolution” fever, it is interesting to see Norwegian sociologist Johan Galtung countering on Russia Today with the imminent collapse of the “U.S. empire” by 2020 (he previously estimated 2025, but shaved the date off by 5 years after George Bush took office). Democracy Now dubs him the “founder of peace studies” and had this interview with Galtung summer of 2010.
But, I don’t share this doom and gloom for America. For one, U.S. holdings of assets abroad stood at $18 trillion at the end of 2009 according to this U.S. Department of Commerce report. The $14 trillion deficit is still smaller. Not to mention the U.S. is well endowed with land (to produce food) and natural resources including oil reserves. Canada’s resources are essentially America’s already. America’s military is light years ahead of any other nation.
Regardless of what, I think if America focuses more purely on equitable trade and scale back from being the lone “policeman” of the world, she can then focus on her problems; that being mainly to stem the accelerating national deficit. At the current rate, it is not sustainable.