No, it is not in decline, it has begun to collapse. Through its productivity, the U.S. once had the world's top living standard as well as being the greatest manufacturing powerhouse ever. But most of that manufacturing is gone and after six decades of taxpayer paid massive stimulus to the military industrial complex, the U.S. is now largely a "consumer nation," meaning 70% of its economy is now dependent upon its citizens borrowing money to buy largely foreign made goods they cannot afford. To sustain itself the U.S. government must borrow money from everywhere including from Social Security, borrowings it can no longer afford.
Adjusted for inflation, U.S. wages are the same as in 1978 and U.S. citizens are tapped out. They were actually tapped out in the 1990's until the Dot Com bubble created the illusion of prosperity, all of it on borrowed money. When that bubble burst in 2000, rather than face a Depression, the U.S. Fed made vast sums of cheap money available which started the real estate bubble, that has now burst. So the government bailed out corporate giants and issued stimulus, largely with borrowed and printed money, while also paying for weapons and wars. This time the "Recovery" is floundering and the government doesn't know what to do next.
When a collapse comes, it comes fast. The Roman Empire didn’t slowly decline. It fell within a few decades during the fifth century, through poor leadership and a vastly overextended military that no longer generated the income to support the Empire. The barbarian invaders finished the job and Rome's giant marketplace and its great centers of learning, along with its superb roads and aqueducts were history. The U.S. is in a far bigger crisis than its politicians acknowledge and the time for bold and sacrificial action such as dramatically slashing the U.S. military overhead is now, while there are still wheels on the American bus.
Dick
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