The U.S. reached its peak relative to the world, and in some ways its absolute peak, as early as the 1950s. In 1950 this country produced 50% of the world’s GNP and 80% of its vehicles. Now it’s about 21% of world GNP and 5% of its vehicles. It owned two-thirds of the world’s gold reserves; now it holds one-fourth. It was, by a huge margin, the world’s biggest creditor, whereas now it’s the biggest debtor by a huge margin. The income of the average American was by far the highest in the world; today it ranks about eighth, and it’s slipping.
But it’s not just the U.S.—it’s Western civilization that’s in decline. In 1910 Europe controlled almost the whole world—politically, financially, and militarily. Now it’s becoming a Disneyland with real buildings and a petting zoo for the Chinese. It’s even further down the slippery slope than the U.S.
Quite the read!
And read all parts, not just part 1.