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American Empire from the 1940's to today

By Noam Chomsky at Jan 18, 2005

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US power peaked in the late 1940s, when it had half the wealth of the world and unmatched control over international institutions, trade, etc. It's been declining ever since. By 1970, the world was becoming "tripolar," with three major economic centers: North America, Europe, Japan-based Asia.  The US by then had about 25% of world wealth and production (figures from memory; I don't recall the exact numbers). Since then the tripolarization of the world has increased.  Northeast Asia is now the most dynamic part of the world economy, and also holds about half of global financial reserves -- though these figures merit much closer analysis, since they treat the regions as distinct, whereas in fact there is a great deal of interpenetration. A few years ago the former head of Clinton's Council of Foreign Advisors, Laura Tyson, summed up the world economy in four words: "America spends, Asia lends." Not entirely false.  And analysts generally expect that sooner or later Asia may not be so willing to lend.  As the dollar declines, in part as a result of Bush economic programs, the willingness to hold dollar reserves is likely to decline -- though there are conflicting factors, like China's wanting to preserve the US market, the fact that the US remains a remarkably rich country with extraordinary advantages, and a lot more.  And there might even be a very serious international economic crash -- no one knows whether existing institutions can keep things together. I doubt very much, though, that invading Iraq was a "last gasp." More likely, in my opinion, a matter of playing one's strong card.  The one dimension in which the US really does reign supreme, without any close challenger, is means of violence and intimidation.  And Iraq is a very valuable prize.

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By Cevirihizmetleri, Tercüme at Jun 29, 2007 16:27 PM
I doubt very much, though, that invading Iraq was a "last gasp." More likely, in my opinion, a matter of playing one's strong card. The one dimension in which the US really does reign supreme, without any close challenger, is means of violence and intimidation. And Iraq is a very valuable prize. tercüme ingilizce tercüme elektrik emlak çeviri tercüman link ekle kiral?k ev

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Re: American Empire from the 1940's to today

By Lolailohk, Spaniard at Mar 13, 2005 11:49 AM
It just popped: The Spanish "Bubble" Empire was made almost exclusively of silver coming from the americas. It lasted until it could not secure the monopoly of silver (change that for dollars...). The policies were quite similar to that of the US: the Spanish crown spent a great deal of that silver trying to maintain "its possesions" in Europe and America with mercenary armies (modern military). After the so-called "golden century" (only for a very few...) and unable to secure enough silver, the crown went bankrupt several times in few decades, and three centuries of decadence followed. Indeed, it chained Spaniards to misery, chronic policies and class. My guess is that a huge economic crisis in the US might perpetuate the current system or even make it harsher (patriot act III?). The rest of the world shouldn't be hoping for that outcome either, because a mortally wound lion is still very dangerous (imagine if you have the bad luck to have a very dumb, alcoholic, fundamentalist, trigger-happy King surround of "inquisidores"). By the way, the crisis is approaching anyway.

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Re: American Empire from the 1940's to today

By Xyzak, Xyzak at Jan 25, 2005 04:53 AM
Once i red in an article by someone i don't recall that "empires last ca. 500 years and after that there is more sudden than gradual decline". Just look at the policy of the current administration. Replacing freedom TO with freedom FROM ... imaginary enemies (Afghanistan, Serbia, Iraq, Iran?). Just like in "1984" there is the constant and neverending "war on terror" to which all citizens must commit by sacrificing their personal rights. Is there a certain threshold which cannot be exceeded? Let's wait and see.

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By Shannon, James at Jan 24, 2005 01:31 AM
Todays news reports the reason why Social Security is in trouble - $1,700,000,000,000 of IOU's from the government to the government. 2018 is when the Government will start the process of paying itself back for the money it stole from social security trust fund. Financial Armagedon is on the horizon.

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Re: American Empire from the 1940's to today

By Friendster, Anarchoal at Jan 23, 2005 14:53 PM
For those who'd like to know more about the function of international finance in maintaining empire, I recommend the "Persian Peril" articles by Stan Goff: http://www.fromthewilderness.com/free/ww3/092004_persian_peril2.shtml http://www.fromthewilderness.com/free/ww3/102804_todays_imperialism.shtml http://www.fromthewilderness.com/free/ww3/111504_privilege_debt.shtml http://www.fromthewilderness.com/free/ww3/120604_material_accumulation.shtml nb: I'm not endorsing any other article on fromthewilderness, some of it's great some of it's nonsense. Stan Goff's stuff is definitely in the "great" category.

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Re: American Empire from the 1940's to today

By Davidberge, Daveos at Jan 21, 2005 11:09 AM
Intriguing, or should I say disconcerting to ponder the summary of the world economy, "America spends, Asia lends." Especially in the context of Warren Buffet's tale of the two towns Thriftyville and Squanderville. Although in that context it's the Saudi's who lend, and are ultimately shifting their US holdings from bonds to land. So how much more dire is the situation if the tri-polarized predicament the US faces is further coalesced with Saudi interests? Sounds like we're going to Iran.

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Re: American Empire from the 1940's to today

By Vanfeather, Vanrob at Jan 21, 2005 07:23 AM
The Asian lending theme is strong, and the amount of Asian central bank purchases of US$ bonds over the past couple of years (concurrent with drop in US$) is massive. But can't see Asia doing anything to damage its biggest market, at least not until domestic demand surmounts exports to US etc. If Asia stopped lending then US would stop buying exports, either due to financial calamity and/or policy. Watching WalMart closely, as it combines a lot of different elements: cheap (at least before US$ tanked) Asian imports, slave wages, union-busting, leverage to gas prices. Stock price has traded sideways for 5+ years and when/if it falls it will be interesting. People here (Canada) always talk about Canadian companies screwing up in US, but WalMart reaction to two unions in Quebec could show that some US traditions don't translate into Canadian very well.

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Re: American Empire from the 1940's to today

By Maahaadave, Gurudave at Jan 21, 2005 02:08 AM
There is a first world economy and a third world economy. There is the world economy which is interconnected with Saudies, Japanese, Chinese, Dutch, French etc owning massive stock and properties in american companies and projects. Likewise Americans do so all over the world as well. The idea that there are economic blocs within the world financial system is not really accurate. There are the haves and the have nots. There are international financiers who dabble everywhere, they rule over the world financial system, and they plan out their course. What seems to us to be chaotic and crazy or unsound, doesn't really mean anything. The financial system is strictly controlled by a cabal of the wealthiest financial entities, they can and do create the illusion of impending doom. The dollar or yen or pound, it's all controlled by people working together on a plan which they think bests suits their desires to maintain and enforce their total control over everyone and everything. It isn't a lack of wealth that is the problem for the future, it is people who don't care about anyone but themselves. They want poverty, disease, and weakness in the masses, it makes them easier to control.

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Re: American Empire from the 1940's to today

By Jserna27, Catalorwell at Jan 19, 2005 23:07 PM
BBC News UK edition, wed 01-19-05 "Global poll slams Bush leadership" (it will probably go unreported here) http://news.bbc.co.uk/1/hi/world/americas/4185205.stm The world has learned their lesson. Seems we have a can of demo-crazy to open. All those countries seem upset... they don't appreciate our kind, liberty spreading policies. Worrisome is the fact that they are now starting to hate also the US public... yikes. Whatever, they're a bunch of squares I say. Oh, on the deterioration of the dollar, there was an excellent article today on the wall streeet journal (espcially the last paragraph of the article) on how to avoid avoid a financial crisis. But not to worry, when we catch a cold, the rest of the world sneezes. And if anything goes wrong, we'll blame the merciless indian savages, oh I mean the chiness. After all its never our fault. (all was written in sarcasm)

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Re: American Empire from the 1940's to today

By Shannon, James at Jan 19, 2005 01:52 AM
The 3rd world's economy is getting very close to bringing down the house of cards built in the US all based on accounting fraud and our consumer driven economy. A paradigm shift is about to occurr. It will happen when the Public & Private Pension Crisis plays out as the "Baby Boom" retires, and the Pension Plans are forced to sell assetts to pay pensions. The markets will collapse as investment overseas becomes more lucrative as the assets of the Pension Plans become essentially worthless. Mark my words the real crisis is not social security but the way the government has allowed the assets of Pension Plans to be valued. Financial Instruments are all smoke and mirrors. When you loan a man money you own him. When you give a man your money on his promise to give it back to you he also owns you. We'll guess what is about to happen!!!!!!!

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