If any country is likely to be run by corporations in 50 years, it's China, not the United States.
Well, they are communist, and people often forget some of the meanings that underlie that word. One of the core concepts of communism is that the government controls the means of production. With this philosophy, it's very heavily weighted towards government control, and the corporations have very little power.
I would agree, however, that China does not hold much power. If they were to go to war with the USA or do anything major that we don't like, we'd stop trading with them, and their economy (and likely ours as well) would tank. In which case, I'd predict they'd be hurt a lot worse by the economic instability than we would be. Our capitalistic economic system has proved to be quite resilient, surviving a Great Depression and the Cold War. Even when we get into major downturns, we have always been able to rebound eventually.
China, Japan, etc. are very very far behind economically and of course militarily they're not even on the charts.
Agreed, and I think some people forget this: China has not been in a major war for a long time. Their military is very likely to be behind ours in technology and strength. The only real advantage they'd have is sheer numbers, and the USA's technology is likely to offset that. All we'd really have to do is to cut off all trade and hold our borders long enough for their economy to collapse.
Nationalism is something of a generational issue. I feel a strong sense of "patriotism" for my country but is weakens over time as I come to realize that the ideas and people that matter to me occur across multiple borders. This already has happened in the United States. At one time, loyalty to individual states trumped loyalty to the union of states. In a century who knows how things may evolve.
I'm a bit worried about this "evolution." I think one of our greatest strengths is our ability to have pride in our states, our towns, and even ourselves as individuals. People may joke about how we are a bunch of "cowboys," but the truth is we have our roots in that rugged individualism and grew to be the great country we are today. Perhaps it's selfish, perhaps it causes conflict, perhaps it's not ideal. But then again, perhaps a person who is strong as an individual makes the group even stronger. Perhaps a person who improves himself will improve the entire nation. Perhaps a person who cares about himself will also care about his country. Perhaps an individual who has pride in himself will extend that pride to his town, his state, his country.
I've seen many complaints that we ignore the international community - but the truth is, we simply do not want our sovereignty and our independence to disappear. After all, we were founded on the idea that we should rule ourselves, rather than by various parts of Europe.
Along this line of thinking, It's my opinion that we should strive to keep our government small. It should certainly exist, and it should certainly have enough power to enforce basic human rights and our laws, but it should not try to exercise undue control over the people.
So, in that like of thinking, I am very leery of what is going on in Europe, where international organizations such as the EU have enormous control over the laws of other nations. I think that these new international organizations may be taking away more rights than they give.
The US economy revolve around the citizens spending all the moeny that they earn.
I worry greatly about this attitude of spending, and I worry that it may be a major reason for our declining economy. I personally think that saving some money is a great idea.
In fact, saving money
creates personal wealth with compound interest rates, while going into debt
destroys personal wealth. Credit cards have interest rates too - but they hurt, not help!
Seriously, I'd think it would be obvious that you'd want an interest rate that adds to your wealth rather than destroys it.
If suddendly people stop spending and start saving, the big inverstors would stop investing their money because the value of their investment would not increase so much.
Quite the opposite!
The basic accounting equation:
Assets = Liabilities + Equity
Equity is the value of your company.
So, with a small bit of algebra, we separate out equity:
Equity = Assets - Liabilities
The total value of a company
decreases when liabilities increase, and
increases when you save cash (cash is an asset, just like land).
I would gladly increase my investments tenfold if people and companies started saving more money.
Suddenly you have a scenario where nobody spends money because they are too scared to lose their money.
Look where our "you gotta spend" attitude has gotten us - deep into debt and afraid to spend money. Debt is a major source of headaches, and the interest rates on credit cards makes it worse. Many people end up losing everything they have when they rack up a great deal of debt.
Indeed, if you save money, I think you'll find you're more confident to spend it. After all, you've saved it, you have plenty of it, and just having it saved increases your wealth due to compound interest. You can easily get the money you've spent back.
I'm not advocating hoarding money and never spending it at all - I'm merely advocating spend it after you've saved it through a bank, rather than buying an item immediately on a credit card.
Think about it: You can in fact spend
more if you have money coming in through the interest in a bank account than if you money taken away through credit card interest.
My credit card company recently charged me for having a balance: That's money out of my pocket never to be seen by me again. That's less money I can spend. I have a lower overall cash flow because money is being taken away from me.
Money I can spend (Cash flow) = money gained each month (paycheck) - credit card interest
My bank, on the other hand, recently put some money into my savings account as interest. That's more money I can spend. I can have a slightly higher cash flow because I'm actually making a small amount of money by simply saving some money in the account.
Cash flow = money gained each month + bank account interest
So, as contradictory as it may sound, saving money actually allows greater spending.
If normal people (normal civilians) in the US start saving their money today instead of spending it, the US economy would collapse.
I would disagree. I think it would only get stronger. In fact, people can spend more money and achieve a higher cash flow if they save a small portion of the money and maintain positive balances than if they maintain negative balances.
FYI, Microsoft is a "saver." They maintain a positive cash balance and try to avoid debt. I think their financial strength is obvious.
"Never spend your money before you have it." --Thomas Jefferson (1743 - 1826)