We all know the USA is a sovereign nation and a super power. It is wealthy beyond imagination with natural resources. Like any other business, it can plod along as long as money is still coming in, no matter how mismanaged it is.
Given the history of the 20'th Century with the cycles of Wars and the expenses of them. the social changes, technological advances, and Corporate & Political profiteering that has taken place, it can paint a pretty grim picture for the average citizen.
Add to this the so called "Liberal Media" and radio Pundits who are paid to present one sided spins on news events, knowing them to be so, the average citizen is annoyed, worried, or paralyzed with fear. But few of them have traveled world wide or lived in other parts of the world (not including living in a military base) or having traveled the USA extensively to know for themselves. So they have no basis to believe or disbelieve what they hear in the "media".
Those I've been lucky enough to discuss this topic with have been Career Military personnel, Expatriates,
and people who work in the Petroleum industry who travel extensively to other countries. The general
comment that they make is that the view from inside the USA is quite different (meaning more distorted) than it is from outside the USA looking in.
I think the USA is like a slow stock market waiting for a rally. It is a huge place and can't adapt as quickly as other advanced countries such as Germany. (Texas alone is twice the size of Germany)
I'll mention the 5 points of an evaluation used in the life cycle of a sovereign country. (of which there are now about 180)
countries are poor and think that they are poor
countries are getting rich quickly but still think that they are poor
countries are rich and think of themselves as rich
countries are becoming poorer and still think of themselves as rich
countries are deleveraging and in relative decline and are slow to accept this reality
Again, this is contingent on a country's ability to keep a supply of money in it's treasury. Often what is reported in the "media" is leveraged by wealthy powers who own or control natural resources and don't want the average citizen being aware of how much wealth exist.
As an example, look at how 1% have wound up with around 90% of the nation's wealth while in the same time the average citizen has become more and more poor.
I was listening to a business report just the other day that stated to be "Middle Class" in America you have to be earning between $47,000 and 115,000 annually. That would be between $22.60 and $55.25 an hour.
This graph shows wages for the past decades and where they went in 2005. It is why I believe the country is
ready for a rally now. (so long as we don't get lured into another faux war)