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Turns out he may have been right, although I thought differently at the time. I agree with Buchanan. I mean we still have 52,000 troops in Germany. What for? Imperial overstretch with an aging population and unsustainable entitlement programs is for real, I'm quite sure.
Here is the British-born historian bemoaning the parlous state of the U.S. dollar several years ago. Dollar
The Chinese and others are quietly leaving the U.S. market--they understand inflation is coming. I hope I'm wrong but with the money supply being tripled since 2008 we're in big trouble.
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In the space of 40 years the US lost its winning ways. Real, hourly wages stopped growing in 1973. Stock prices, in real terms, peaked out in ’99…about the same time that real, per capita private sector growth came to a halt. The number of full time jobs topped out about two years later…and housing hit its peak in 2007.
Abroad, US armed forces continue to squander the most magnificent advantage that a military has ever had. The Pentagon spends 7 times as much as the next biggest spender. And it doesn’t even have a worthy opponent. Where does it get the money? It borrows from the Chinese!
And what does it do with all that money? It engages in pointless, blood sucking zombie wars. Its three current engagements alone are expected to cost $4 trillion, according to the latest independent estimates – about as much as its trade deficit over the last 10 years.
Ask your neighbors. What strategic advantage does the US gain from fighting in Afghanistan, Iraq or Libya? They will have no good answer. Probably some claptrap about ‘fighting terrorism’ is the best they will be able to do; that’s what they were told on TV.