Is America past its prime?

a reply to: Semicollegiate

> Catalonia is voting on independence from Spain
> Nullification and secession are possible options.

Banks warn they may leave Catalonia if it breaks away from Spain
elpais.com...

The banks said publicly they will leave if there is independence,
which is a straight-up lie. Are they willing to lose hundreds of
billions of euros just because of "patriotism"? I don't think so.

Catalonia would issue its own banking licenses for new banks internally.
But what currency are they going to use those banks outside the eurozone?
That would meaning going back to the peseta, which will grievously devalue
people's savings. Today people are contacting friends and family in the US
asking then how to to get bitcoins as soon as possible.

Interesting times.... who's next Scotland, Texas, Alaska, North Dakota?

"...decentralize everything, start with money."

a reply to: wasaka

Yes, id did but no in the way that you think, America die out its income base about three decades ago, with the lost of most of its industrial base, during the industrial time in the nation most people work in manufacturing and these manufacturing was private, now most of Americas working force is employed by the government, most of Americans now depend on the government for some kind of assistance, retirement or entitlement program.

So yes our prime is done, America now live on consumerism.

originally posted by: marg6043
a reply to: wasaka
Yes,....income base about three decades ago.....the lost of most of its industrial base, ...now most of Americas working force is employed by the government, ...Americans now depend on the government for some kind of assistance, retirement or entitlement program.... yes our prime is done, America now live on consumerism.

PEAK GROWTH is now behind us.

You make good points. together with economist Robert Gordon's four reasons why US growth is slowing (epidemic debt ...growing inequality etc), and it appears..... it APPEARS we have reached the point that we can't innovate our way out of... what should be call it? How about "PEAK GROWTH"

Robots are not going to save us.