7 thoughts on “The Price of Empire

  1. Hi Dr. Stuart, looked up the world’s largest economies and the US is still ranked as 1st(because it owns so much debt from other countries through the IMF but owes more than it can ever pay back)and the UK is 7th and by 2032 10th. I personally think the US will crash because unlike Russia, China and a few other countries, neither the US or UK are gold backed so their fiat currencies are in effect worthless.
    Going to follow the link you provided. Many thanks,
    Susan.

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    • According to the BBC, Susan, China became the largest global economy in 2014 according to one measure (purchasing power): https://www.bbc.com/news/magazine-30483762

      In my view, the issue of gold-backed currency is a complicated one. I agree the US is headed for a crash but for different reasons. I think the weakness in the US economy stems primarily from the loss of manufacturing and massive deterioration of the US health and educational system. It’s only by investing in the health and education of its citizens that a nation creates true wealth.

      The US certainly has the technological know-how to be number one in the world in producing solar and wind technology. Because they chose to invest in financial products and war, instead, they are rapidly being left behind in the global renewable energy revolution.

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