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Paul Kennedy posits that continued deficit spending, especially on military build-up, is the single most important reason for decline of any great power. The costs of the wars in Iraq and Afghanistan were as of 2017 estimated to run as high as $4.4 trillion, which Kennedy deems a major victory for Osama bin Laden, whose announced goal was to humiliate America by showcasing its casualty ...
By 2020, the United States will have been allied with Turkey and Japan for over 75 years. However, in the years after the end of the Second Cold War and collapse of Russia, the United States will gradually become uneasy as Turkey and Japan expand their military power and economic influence. Establishing regional spheres of influence, Turkey and ...
Pax Americana [1] [2] [3] (Latin for ' American Peace ', modeled after Pax Romana and Pax Britannica), also called the "Long Peace", is a term applied to the concept of relative peace in the Western Hemisphere and later in the world after the end of World War II in 1945, when the United States [4] became the world's dominant economic, cultural, and military power.
The current U.S. economy does share some similarities to Rome’s situation prior to the empire’s fall. Mitchell says the major economic problem Rome faced was its precious metal-based currency.
The United States debt ceiling is a legislative limit that determines how much debt the Treasury Department may incur. [23] It was introduced in 1917, when Congress voted to give Treasury the right to issue bonds for financing America participating in World War I, [24] rather than issuing them for individual projects, as had been the case in the past.
In March 2009, Panarin gave a speech at the Diplomatic Academy in which he stated that "There is a high probability that the collapse of the United States will occur by 2010" and predicted that Russia and China, which will soon become economic superpowers, will need to collaborate to rebuild the world economy with a new currency once the United ...
America’s gross national debt hit an eye-watering $33 trillion for the first time in September — and in fact is currently closer to the $34 trillion mark.. In response, the U.S. is now ...
The history of the United States from 2008 to the present began with the collapse of the housing bubble, which led to the Great Recession. The resulting economic downturn and general discontent led Barack Obama to win the presidential election in 2008, becoming the country's first African-American president.