The long way down

“America has no real alternative to continuing imperial decline: the big questions are simply how fast and how peacefully. The problem is that the arms industries will fund any and every Presidential candidate and, whoever wins, those industries will demand to be fed. It is unclear, though, whether Americans at large are willing to accept the sacrifices this may entail. As the American debt grows, the choice will become stark: paying off the debt—or, mare realistically, never paying more than the interest on the debt—will require either large tax increases, or a deep recession, or a huge inflation. The American public will vote for inflation as the least painful solution: somewhere out there in the years to come there is a giant inflation of almost Weimar proportions waiting to happen. But the banks will hate that, as will virtually all the other business interests (including the arms manufacturers) who are full voting members of the American democracy.” – E. G. Johnson, Heroes and Villains