After the election of Barack Obama in 2012, I was depressed. I believe his economic policies are destroying this country and so I've started reading books with the same belief to get a better idea of how the collapse may occur, if it comes to that. The first book was After America by Mark Steyn.
I enjoyed this book, not only for the information but also because it made me laugh out loud in many instances. Steyn is an entertaining writer, but also very knowledgeable and honest in his opinions. One of the best insights from the book is that America took over as superpower status from England in a peaceful manner. England was in debt to America for about 50 years from the lend-lease program and never really recovered. America is currently in debt to China and will be for at least 50 years, but if China becomes the new superpower, the transition is likely to be much less peaceful.
I was disappointed that Steyn didn't have any specific details on how an economic collapse might occur from our current policy of printing money, increasing debt and redistribution from producers to loafers. But as I've continued reading, no one else has very clear ideas on what could happen because the world financial system is simply too big and complex to accurately predict the future. So I'll give Steyn a pass on not predicting the unpredictable.
Sunday, February 24, 2013
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