America is in decline. There are some that still attempt to deny this, but the reason why Donald Trump’s campaign slogan has so strongly resonated with the American people is because deep inside most of us realize that America is not as great as it used to be. Our economy is a mess, we are 19 trillion dollars in debt, our infrastructure is crumbling, crime is on the rise, moral decay is all around us, other countries don’t respect us as much anymore, and our nation is the most divided that it has been in decades. Anyone that believes that America is better than it has ever been in 2016 is either completely delusional or simply has not been paying attention.
It’s anyone’s guess whether Obama or Clinton is ahead in their apparent race to tell the most lies. The good news for America is that Obama has only a few more months to rack up his tally while in the White House.
Is America getting worse or better? Is America going to be “great” again, whatever that has meant since the 1980s? But more to the point, what difference does any of it make? Let’s be honest here about the so-called future of the United States of America. Since the dawn of what humanity likes to call “civilization” (i.e. the ability of a government to rob honest people under the guise of taxation), very few governments/nations/kingdoms have survived more than a few hundred years. Now, the United States has had a pretty good run. We’ve done a lot and accomplished a lot, not the least of which is inventing the ability to destroy the entire planet.
We have added an average of 1.1 trillion dollars a year to the national debt under Obama, and we still have about six more months to go. Unfortunately, this Ponzi scheme cannot go on forever and a day of reckoning is coming. And when it arrives, the pain that it is going to cause for ordinary Americans is going to be far greater than most of us would dare to imagine.
The central bankers’ ability to defy economic gravity may, at long last, be coming to an end. Even the radical Keynesian, Richard Koo has recognized the outrage of NIRP, which he recently described as “an act of desperation born out of despair over the inability of quantitative easing and inflation targeting to produce the desired results… the failure of monetary easing symbolizes crisis in macroeconomics."