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Sounds Right To Me

Xymphora looks into his crystal ball:

Problem. The United States is a giant turd circling the toilet bowl, and George Bush is flushing as fast as he can. It's funny how empires at crucial junctures in their histories sometimes find themselves with inspired leaders, and sometimes find themselves with chimps, and the United States has lucked out with a chimp. The combination of religious nuttiness, disdain for the environment, crazy class-warfare tax policy, and ruinous wars would be bad enough, but the real problem is economic, and Bush's complete disinterest in even addressing the debilitating problem of the two massive deficits, budget and trade, which are bound to become progressively worse. He has no ideas for the trade deficit, and his big ideas for the budget deficit, needless to say, involve removing what few benefits poor people now receive in return for their taxes. For all intents and purposes, the United States is bankrupt, by which I mean it will never, ever, be able to pay back what it owes the rest of the world. The only reason the rest of the world continues to fund this disaster is that it needs to keep the American economy on enough life support to maintain the value of the trillions of American dollars held outside the United States, and support the American consumer demand which keeps foreign factories running to create such massive foreign prosperity.

The American economy is just a big Ponzi scheme, with its prosperity an illusion created on its ability to borrow more and more money. Like all Ponzi schemes, this can't go on forever, and eventually the rest of the world will figure a way to get out as painlessly as possible. This will cause problems all over the world, but mostly in the United States, as the drastic decline in the value of the U. S. dollar will cause the cheap Walmart consumer goods made in China - the real opium of the masses - to become expensive consumer goods made in China. When that happens, we may get to see what revolution looks like in the surprisingly passive American poor, and those semi-secret concentration camps set up by the Office of Homeland Security may see some use.
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The current series of American wars is just the death throes of empire, as the Americans attempt to blackmail the rest of the world into continuing to finance its profligate ways by threatening to control the entire world supply of oil. It's not going to work, as the U. S. military is simply not up to the job of winning the wars it has to win, having essentially lost both Afghanistan and Iraq. While the United States wastes money on wars, money it doesn't have, China just makes stuff, and becomes ever more wealthy.