The empire is doomed

461
America is doomed

Leading the empire’s new world order are generations of deviants, schoolyard bullies, and programmed ignoramuses who betrayed their collective independence heritage.

A ‘New World Order’ Looms — But Not How George Bush Imagined

by James Tweedie Sputnik Economy

The US empire is “doomed” as the world shifts to a new multipolar economic order, says an economist.

The rise of the BRICS group of major emerging economies — Brazil, India, China, Russia and South Africa — to overtake the G7 in gross domestic product (GDP) terms has knocked the US off its perch as the sole financial superpower.

Meanwhile Russia has challenged Washington’s crumbling military hegemony in Syria and now Ukraine.

Those events have shattered late US president George H.W. Bush’s prediction in 1991 — when the Cold War appeared over — of a “new world order” dominated by his country.

Dr Richard Wolff told Sputnik that “the truth of the matter is the unipolar is over.”

“I know this is difficult, particularly for Americans, to kind of wrap their heads around,” since the US had been the world’s leading economy since the end of the Second World War, but “any person with a grasp of history would have known and presumed that this wasn’t sustainable.”

After almost a century of “dominance,” the US is now “doomed” said the academic — and change is “happening fast.”

“Compared to what it was 50 years ago and compared even more dramatically to what it was ten and 20 years ago, the relative decline of the United States and its allies, the G7 versus China and its allies, the BRICS movement, it’s spectacular,” Wolff said.

The BRICS are now the bigger and the richer and the better endowed of the two,” Wolf stressed. “And that’s changing the politics and the culture, and the people know it.”

The economist said the both the ruling Democratic Party and the Republicans were “practicing what psychologists call denial” and still “throwing their weight around militarily.”

One consequence — and measure — of the decline of US dominance is the undermining of the almighty dollar as the international reserve and trade currency.

The academic explained that the pound sterling had previously held the that preeminent status when the British Empire dominated the world in the 18th and 19th centuries, but “when the British Empire faded out and got replaced about a century ago by the United States empire, the dollar replaced the British pound as the dominant currency.”