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Yup, our system is going down the path of imploding under its unsustainable burdens and there is no political will to do anything to solve the problem.

Most troubling is that there seems to be very little political will even within the community of economic fiscal conservatives, which suggests that the insider perspective is that we have passed the point of no return and the system is beyond fiscal salvation and the best that can be done is to manage the decline and delay the inevitable, preferable until after they are dead and gone

China's economy is 95% dependent upon exports, 40% of which go to the United States. China has had remarkably low success developing domestic markets given it's export success.

Most every European economy is dependent upon exports to the United States and in Germany 50% of it's economy is dependent upon exports, with the major exports to the US .

Do a little thought experiment on how this one is going to play out and it becomes crystal clear why Donald Trump is pushing as hard as possible to make the US energy independent and bring back broad based manufacturing to the US.

The probability of bad things happening in the world economy in the near future are so high it's almost inevitable because the imbalances have become so extreme and the system sufficiently unstable that even President Trumps currently very modest attempts to address the imbalances are going to be unsettling to the worlds other economies and in highly export dependent places like Germany and China they could actually impact stability in a negative fashion

Hence President Trumps other priority to beef up the US military that was gutted under President Obama.