Is war and our military machine our chief remaining resource?
by Mortgage Rates on Tuesday, November 16th, 2010 | 3 Comments
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Rome was very week militarily at the end, that is why they are not here anymore. We are week because our politicians can’t let our military do the job that they sent them to do.
Roman history may very well have lessons for the U. S. and its hawkish ways. I would be inclined to agree with you that as idealogy in the country changed so has its products and perhaps even its usefullness to the world.
Your observations of the parrallels between Rome and the U.S. are on target as well as the reasons both empires found themselves at these crossroads.
We primarily export agriculture, aircraft and inorganic and organic chemicals and other manufacturing goods.
In fact, exports have risen along with the rest of GDP, as have manufacturing. We really lost manufacturing jobs and switched from consumer goods to durables. That is why you don’t see anything made here in America. Nonetheless, our real GDP in fact rises every year.
You are certainly correct that most of this growth is aimed particularly at the upper classes (1% of the population), and it is no longer feasible to try and live the life of your father without a PhD! Also, real median wages have not kept pace with the growth of GDP.
without immigration, however, we could simply not afford to pay for the baby boomers when they retire, so I think immigration is a wonderful thing.
Another thing, the falling dollar will make exports cheaper overseas, so that is generally a good thing. However, in order to attract more funds to pay for our deficit, we will likely have to raise interest rates. But we shall see. China still keeps buying our debt anyway, even with a falling dollar and lower rates.