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This is true, but that's something that can take a thousand years to happen, as it has with multinational political systems or empires in the past, including the Chinese themselves. Financial collapse is not the same thing as economic collapse, though.  After all, it's just money we're talking about in a financial collapse, a mere contrivance for getting people to organize real resources among themselves. A financial system collapse is just a  collapse in one set of rules for doing things, and that can have real and severe consequences, but it can be repaired a lot easier than, say, an ecological disaster like we might face from unchecked global warming, for instance.
by santiago on Tue Jul 20th, 2010 at 10:36:28 PM EST
[ Parent ]
an ecological disaster like we might face from unchecked global warming, for instance.

Or a worst cast outcome from Macondo Prospect, such as a tsunami triggered by a giant methane burp followed by  subsidence, driving H2S, SO and methane before it at the speed of sound towards the coast, followed by a wall of water and accompanied by a series of explosions when ever an appropriate mix of methane and oxygen is achieved.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Jul 21st, 2010 at 12:04:02 AM EST
[ Parent ]
Financial collapse is not the same thing as economic collapse, though.

The thing is that the American economic collapse has already happened and should be treated in the past tense.

What's keeping the American empire going is its mental capture of the European elites and its control of the financial system. For a country whose only significant civilian economic activity is finance, financial collapse is a generalised economic collapse.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Jul 21st, 2010 at 03:36:51 AM EST
[ Parent ]
that's something that can take a thousand years to happen,

Or that can happen in well less than a century, as with the U.K. and its Empire - 1914 to 1948 or 1956. The US empire may date from 1898 to 1971 or 2001 or ???? More generously, perhaps from 1803 to ????

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Jul 21st, 2010 at 09:49:28 PM EST
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