Has the USA peaked?

Sometime in the early 1970's, I put pen to paper and wrote a personal time capsule entry (which unfortunately has been lost as the result of many household moves). I remember entitling it "Has the USA peaked?" Yes, kiddies, we sure did, and now, as everyone is aware, we are on the downslope.

Does history repeat itself? Sure does! The rise & fall of the Roman empire. The similar growth and demise of the United Kingdom, etc. Now, the USA.

What causes these "rise to fame" and the slipping away into mediocrity (or sometimes oblivion) patterns? Human nature? Personal greed? It's happened before. It's happening now. And, it'll happen again (watch China).

Who's to blame? Everybody. Nobody.

I consider myself to be fortunate enough to have been alive during an era where I could see all of this play out right before my eyes. My family didn't get our first TV until I was 8. Now, we have four TV's- and there are only two of us. We have three cars- and there are only two of us. See the picture?

Many of us have been witness to, or part of, many mini "rises and falls". The steel industry, during it's heyday, I knew highly paid workers who went to work and slept thru their entire shifts. The commercial aircraft industry- now a shell of it's former self. The once leader of the world auto industry- we're seeing that demise play out on a daily basis as I write this.

Get used to it, folks. Your lifestyle will never be the same. Ok sure, there will be individual cases of growth & prosperity, but, on the average, your lifestyle ain't going to be what it used to be. Our economy will be driven more by needs, than by wants.

However, it's not all doom and gloom. As an offshoot of this, your personal financial stability should actually get better. Once you accept the fact and get used to living on less, your debt picture will improve.

Signing off for now. (And... don't forget to pick up those pennies on the ground- I do).

Grandpa B