This period also fascinates me. What tectonic shifts occurred in this time of discovery and cultural upheavals. Excellent summary & analysis - The parallels with the USA importing far more than it produces and relying on its Fiat currency world status to remain at the pinnacle of global power - over extending its empire and borrowing on its good reputation .. while ceasing to manufacture what it consumes - these all converge eventually to topple seemingly invincible sovereign powers. There is an awakening to recognize these trends and hopefully address them or further delay the inevitable. Many are doubting whether this level of rapid decline as with enormously rich but debt encumbered Spain in the 18th Century can’t happen here. History teaches us otherwise. Thank you for this lesson!
Thank you for the commentary! Agreed unfortunately - I went into the analysis more focused on the effects of too much gold and silver, and came away with the same conclusion on the United States.
This period also fascinates me. What tectonic shifts occurred in this time of discovery and cultural upheavals. Excellent summary & analysis - The parallels with the USA importing far more than it produces and relying on its Fiat currency world status to remain at the pinnacle of global power - over extending its empire and borrowing on its good reputation .. while ceasing to manufacture what it consumes - these all converge eventually to topple seemingly invincible sovereign powers. There is an awakening to recognize these trends and hopefully address them or further delay the inevitable. Many are doubting whether this level of rapid decline as with enormously rich but debt encumbered Spain in the 18th Century can’t happen here. History teaches us otherwise. Thank you for this lesson!
Thank you for the commentary! Agreed unfortunately - I went into the analysis more focused on the effects of too much gold and silver, and came away with the same conclusion on the United States.
Hard to turn the ship around in time - a chaotic period ahead for sure.