[Lakeshark]

Okay, I made a mistake................you do support Ron Paul.

[rabscuttle385]

Foreign policy is a prime suspect. The center of a vast empire that covered almost a quarter of the world's land mass and one third of its people, Great Britain accepted the role of 'global policeman' for much of the late 19th and early 20th centuries. As with ancient Rome, this proved vastly expensive both in terms of money and domestic tranquility. Funds diverted from the home nation hurt working people disproportionately, fueling socialist activism. Eventually, the empire rotted from within.

He's right.

[darkside321]

Unlike America, Britain’s pound sterling has long since lost the protective shield of being the world’s official reserve currency. Therefore, the British are confronted with inflation and a possible credit downgrade now, while America still has time to reverse course.

---

Well the brits can adopt they Euro anytime they want if the pound finally fails. But if the dollar fails? Pesos? Amero?
;-)

[Batrachian]

The only problem with this piece is that it's entitlement programs, not defense, that is costing so much and bankrupting the country.

Thatcher cut taxes to stimulate the economy, all the while raising defense spending. This bit about being the world's policeman doesn't really fit. Besides, when the British Empire was at it's height it was really raking it in, what with mercantilism and all.

[pnh102]

Someone has to do it.

[mysterio]

Lots of wisdom in Washington's farewell address.

[bamahead]

Many economists trace America's economic decline to the activities of the Fed, in particular to the printing of massive amounts of fiat currency unsupported by the gold and foreign exchange reserves held by the central bank...But why would a country's leadership pursue such a dangerous course? Foreign policy is a prime suspect.



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