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Message: <blockquote data-quote="rickyb" data-source="post: 4966657" data-attributes="member: 56035">The death blow to the American empire will, as McCoy writes, be the loss of the dollar as the world’s <a href="https://www.google.com/search?q=reserve+currency&oq=reserve+currency&gs_l=psy-ab.3..0l10.285201.285702.0.286092.2.2.0.0.0.0.116.116.0j1.2.0.dummy_maps_web_fallback...0...1.1j2.64.psy-ab..0.2.400.6..35i39k1.284.QvashJ8jG2c" target="_blank">reserve currency</a>. This loss will plunge the United States into a crippling, and prolonged depression. It will force a massive contraction of the global military footprint.The ugly, squalid face of empire, with the loss of the dollar as the reserve currency, will become familiar at home. The bleak economic landscape, with its decay and hopelessness, will accelerate an array of violent and self-destructive pathologies including mass shootings, hate crimes, opioid and heroin overdoses, morbid obesity, suicides, gambling, and alcoholism. The state will increasingly dispense with the fiction of the rule of law to rely exclusively on militarized police, essentially internal armies of occupation, and the prisons and jails, which already hold 25 percent of the world’s prisoners although the United States represents less than 5 percent of global population. Our demise will probably come more swiftly than we imagine. When revenues shrink or collapse, McCoy points out, empires become “brittle.” An economy heavily dependent on massive government subsidies to produce primarily weapons and munitions, as well as fund military adventurism, will go into a tailspin with a heavily depreciated dollar, falling to perhaps a third of its former value. Prices will dramatically rise because of the steep increase in the cost of imports. Wages in real terms will decline. The devaluation of Treasury bonds will make paying for our massive deficits onerous, perhaps impossible. The unemployment level will climb to depression era levels. Social assistance programs, because of a contracting budget, will be sharply curtailed or eliminated. This dystopian world will fuel the rage and hyper nationalism that put Donald Trump in the White House. It will spawn an authoritarian state to keep order and, I expect, a Christianized fascism. [URL unfurl="true"]https://scheerpost.com/2021/07/26/hedges-the-collective-suicide-machine/[/URL]</blockquote>

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