Economists: It Doesn't Look Good For U.S. Economy In Next Decade

[dustyspringfield]

http://www.huffingtonpost.com/2011/01/09/economists-it-doesnt-look_n_806420.html

Economists: It Doesn't Look Good For U.S. Economy In Next Decade

some highlights....

In the long run, the United States must face up to inevitably being overtaken by China as the world's largest economy. And it may have missed a chance to rein in its largest financial institutions, many of whom remain too big to fail and are getting bigger.

"The rise of developing Asia is going to accompany slower world economic growth," he said.
The United States will need to come to terms with the fact that its prevalence in the world is fated to come to an end, Jorgenson said. This will be difficult for many Americans to swallow and the United States should brace for social unrest amid blame over who was responsible for squandering global primacy, he said.


:confused::kanye thoughts?
brace for social unrest amid blame? that doesn't sound good at all
and it leads me to wonder where will the next "IT" territory? ppl view the US as the land of milk and honey, what happens now? where will be the new milk and honey land?

[odeisel]

The sad part is that the IS is not taking care of education. With unions and such a high standard of living, there is no way that the US can compete for manual labor around the world, so the only real chance its citizens have in a global economy is intellectual property. So much for that. It is going to be a very sober century for America because they are too enamored in silly things and the differences among its own citizens to unite and compete.