As I said below (The cause of all evil), the western world is slowly, maybe inexorably, tumbling into decadence and irrelevance. All is said here, in a precise and clear way. Our world is becoming less and less recognizable by the minute...
PS: now S&P is revising the rating of the US republic. And you can be sure it will go down, since the economic and financial problems of the US are mostly still there, namely the insolvency of most of the states finances, extremely low economic growth, inward looking policies, and total subjection of politicians to the financial system.
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