I agree with what you stated in your last post. My explanation really only applies since the early 70’s. I totally agree that the Vietnam War was a turning point for our country and we’ve been headed for a cliff ever since. I just don’t know exactly how far away the edge is and what will push us over.
Another thing I didn’t mention is that our expanding economy at it’s core is extremely natural resource dependent and this is even more scary than the fractional reserve banking system as operated by the Federal Reserve. If the world can’t keep producing/shipping mass quantities of stuff, no one would have a reason to borrow, and we would again be faced with a depression. As you said, the US is in a much more precarious position than many other developed countries due to the fact that we consume more than we produce.
