Most people accept change as a constant in their lives. They are born, grow old, and die. Their lifestyles, relationships, and perspectives fluctuate and evolve. They interact with others in a variety of settings, deal with new and unusual circumstances on a regular basis, and add to a burgeoning catalog of unique experiences without necessarily trying too hard. Meanwhile, the march of progress and an array of natural and man-made cycles constantly interject themselves, forcing everyone to adjust and adapt along the way.
Still, acceptance goes only so far. If, for example, you ask Americans how their lives might change when the United States is no longer the world’s military, political, economic, and cultural leader—or even a superpower at all—many will look at you strangely, as if you had two heads. Yet history teaches us that empires always come and go. Before the United States, there were Great Britain, Spain, and the Netherlands. Further back, there was Rome. Why should this time be different? Could the American era really turn out to be the one and only exception to a recurring pattern of geopolitical birth and death that has spanned thousands of years? Frankly, the odds are against it. In fact, there is plenty of evidence to suggest that the United States’ days as hegemonic leader are already numbered.
Once the embodiment of prosperity, the United States now finds that its finances are in shambles, utterly dependent on borrowed money and the kindness of foreigners. The dollar is no longer an undisputed store of value or a universally accepted medium of exchange. For decades, the United States was an economic, social, and cultural beacon, shining brightly around the world; in recent years, the foundations that made it so have gradually been worn away. At the same time, emerging powers like China, Russia, and India are increasingly unwilling to toe the U.S. line. Despotic regimes in North Korea, Iran, and Venezuela repeatedly challenge the nation’s authority. Even its long-vaunted military supremacy is called into question amid the debacles in Iraq and Afghanistan.
Adding insult to injury, numerous polls reveal that the longtime leader of the free world is no longer respected or admired as it once was. Many of those who live in places such as the Middle East, Asia, South America, and even Western Europe are rejecting U.S. standards, rules, political goals, and cultural norms in favor of their own. They are becoming more self-confident and assertive, believing their approaches to living, working, governing, and realizing their full potentials as individuals and as nations are as good as—or better than—the American way of doing things. More and more, they question whether the United States is even relevant to their lives. In sum, foreigners are acknowledging a tectonic shift in the global order that most Americans don’t even know is taking place.
But it seems that even those who accept that the world is changing haven’t fully thought things through. Typically nowadays, many believe that no matter what happens more broadly speaking, it won’t have much impact on their lives. Others suppose that while things could get a bit dicey, we live in a sophisticated age. In their view, it is not in anyone’s interest to make too much fuss or to meddle with a system—regardless of its origins—that seems to work. The upshot: a belief that any troubles that flare up will blow over quickly. And finally, more than a few people have some vague notion that whatever transition does occur will be benign or maybe even positive—akin, perhaps, to what took place many decades ago, when the United States grabbed the leadership baton from its English-speaking predecessor, Great Britain.
But circumstances are different now than they were back then. The stakes are also higher. Nuclear proliferation, breathtaking technological advances, and a decades-long economic boom have increasingly leveled the global playing field. Myriad financial and structural imbalances; competition for energy, food, water, and other resources; and growing social and political divides have fostered a divergence of interests and a hardening of differences. Taken together, these factors suggest that the world will be a vastly more dangerous and unsettled place in the years ahead. It will be a time of vulnerability, disorder, and divisiveness, where individuals, groups, and nations will discover that they are locked in a relentless, often desperate struggle with others—occasionally out of choice, more often out of necessity.
Businesses will find it hard to survive, let alone thrive, amid increasing violence and conflict, shortages and logistical disruptions, and a breakdown of markets and financial mechanisms. Individuals will be forced to rethink livelihoods, lifestyles, living arrangements, and locales. Political structures will be in flux, as local and regional leaders gain influence at the expense of national authorities. Around the globe, gangsters, maniacs, and mobs will compete with established regimes for the reins of power. Nuclear attacks, domestic terrorism, and other threats that once seemed remote to most Americans will become an all-too-frequent reality. So, too, will breakdowns, epidemics, and other fallout stemming from economic deterioration, growing social unrest and criminality, and a forced shift toward greater self-sufficiency.
For many Americans, the years ahead will be nothing short of a modern Dark Ages, where each day brings forth fresh anxieties, unfamiliar risks, and a deep sense of foreboding. However, for an enlightened few who grasp the full extent of what is going on and who take the steps necessary to steel themselves for whatever happens next, the post-American era may well prove to be a unique moment, when they can achieve the financial goals they never thought possible. Those who pay close attention, plan carefully, and act accordingly may even realize a degree of wealth, security, and inner peace that leaves them head and shoulders above everyone else.
To do this, of course, people will have to understand how things got to where they are now. More important, they will need to know how things will all play out in future. When Giants Fall: An Economic Roadmap for the End of the American Era answers those questions—and more. From an examination of key economic, political, geopolitical, and social issues to the practical realities of earning a living, protecting and preserving wealth, running a business, and looking after loved ones, the pages ahead provide a straightforward and comprehensive overview for making the most in uniquely unsettled times. For those who can’t afford to get it wrong, When Giants Fall is a clear, no-holds-barred guide that will help ensure they get it right.
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