Booster:

The US has likely always been able to "skate away" because of its "reserve curremcy" status and by virtue of it being even yet today, the principal, largest and dominating economy in the world. This will last a while yet, as the US still has a significant lead with respect to the rest of the world. However, that advantage willl dissipate as the US faces the rest of the world with its excesses. Our political structure is not doing those elements required to continue its dominant economic position and its reserve currency status. Eventually, the tide of history will roll over the US as its economic hegemony wanes and recedes. A process already under way. The US has been a great leader of the world now for seventy years as we led the world out of world war and gave the world a cohesive organizing and absolutely needed leadership position which the world desperately needed. However, in the process, the US has lost its way as it became drunk with its own importance and arrogant in attitude!

Brian