IMO the USA is on the skids politically if all that it can offer in political leadership is Trump or Biden.
Does this and $34 TRILLION debt signal the end of an empire?
The USD (the US imperial wealth extractive instrument) is rapidly losing its global reserve currency status . Its share of forex reserves held by O/S central banks has been falling rapidly which corresponds with its drop as a %age on global trade.
The Ukraine war/US sanctions on Russia has simply accelerated this process IMO.
This, IMO, snookers the US from printing greenbacks in wild abandon which it has done since the GFC without incurring crippling inflation.
US debt 2008 approx. $8 Trillion. Current Debt approx $34 Trillion Average accrual of debt P/A $1.62 Trillion P/A which has accelerated since Covid- Ukraine War.
