America, the Fragile Empire Niall Ferguson http://www.commondreams.org/view/2010/02/28-5 <http://r20.rs6.net/tn.jsp?et=1103166391733&s=3805&e=001K2GQ0Y617hEXrsWxpnkqzLjQpKjx1j1VUVjU_txO6SLllXSLpsVagxUPEIR-MU_8Cktmwo1oJU2IW04EYz2Is4CdJOPdCa5Molw_aFgjiv3kaOR4L7Bc_mkBSrPm3dfOLv3E3VLDWvs5t_NlQUlf7g==>
.. .. If empires are complex systems that sooner or later succumb to sudden and catastrophic malfunctions, what are the implications for the United States today? First, debating the stages of decline may be a waste of time -- it is a precipitous and unexpected fall that should most concern policymakers and citizens. Second, most imperial falls are associated with fiscal crises. Alarm bells should therefore be ringing very loudly indeed as the United States contemplates a deficit for 2010 of more than $1.5 trillion -- about 11% of GDP, the biggest since World War II.
