The US possesses the world’s largest military, we are still the world’s reserve currency (for as long as that lasts), we have abundant natural resources and enjoy (to steal the British term) “splendid isolation”
Allen, the first two go hand in hand. Our military dominance is probably the only reason the currency reserve status has lasted. Really it’s the only thing giving the dollar any value. From an unbiased point of view it gives us an unfair advantage because we can run debt up to the moon and the world has to bare the burden of our debts. From a technical standpoint the dollar is strong because every other currency is collapsing and they are grabbing dollars but from a fundamental standpoint it’s crap and the world is losing faith fast and they should.
The reason we left the international gold standard was because we could not afford Vietnam. This funny money business of running up endless debts for our grandkids to payoff to persue empirical goals is getting old.
There is a tremendous amount of debt out there that requires economic growth to pay off. I don’t see it happening.
I agree are, our geography is favorable and we do have a natural resource rich land. Unfortunately the banksters, behind everybody’s backs, have been buying up farmland, mining rights etc… Real things, that should tell you something about the fate of our monetary system.
