Random Thoughts from the High Desert
Written by Sig Silber
The U.S. "Empire" has grown considerably from the way it was viewed in 1898 according to this map found in Wikipedia here. There is an insert in this map showing the U.S. Empire a hundred years earlier. We are now in 2014 and some people are wondering if the U.S. Empire is on the verge of collapsing. That is certainly a pertinent question.
June 11th, 2014
in Op Ed
by Dirk Ehnts, Econoblog101
Bloomberg (via the Japan Times) reports that the Liberal Democrat Party is set to liberalize the Japanese financial market once again:
The government should consider scrapping the part of a law that limits credit to a third of a borrower's income, Taira said in a recent interview. He also wants to raise the ceiling on interest rates back to 29.2 percent from 20 percent to encourage consumer lenders to make more loans.
Written by Frank Li
Is the U.S. the only superpower on earth today? Yes! But how long will the U.S. domination last? Not more than two more decades, in my humble opinion! Why? Three main reasons:
- History: The world has never been dominated by one country for very long. Instead, it has always been led by multiple countries. The current period of U.S. domination will prove to be no exception (American Exceptionalism).
- Competition: A country may lead the world for a while, just as the U.S. has been doing after WWII, but it always fades because of competition - Others learn from the leader to become better.
- Self-destruction: Self-destruction can be even worse than external competition. America has been grappling with the inherent problems of democracy. For example, both career politicians and career welfare recipients are parasites. Together, they have been destroying America inside out, with no relief in sight!
The WSJ Continues to Miss the Story
by William K. Black, New Economic Perspectives
The European Central Bank's (ECB) written policy is to maintain the eurozone inflation rate at just under two percent. The ECB has consistently failed to achieve that goal. Indeed, its failure has been growing steadily. The ECB's failure tells us something enormously important about what is wrong with the eurozone's economy and the troika's bleeding of that economy through austerity.