Remember back when you knew you were in the so-called developed world because the economy was doing better than the so-called developing world? Well times are changing. Today the International Monetary Fund announced that, for the first time since World War II, the world's developed economies would be shrinking by 0.3 percent in 2009 and America will decline by 0.7 per cent. American unemployment is at a 25-year high. When the globe emerges from this economic shakedown, membership in the "developed" club may have changed dramatically. [via Foreign Policy]
Well let's put this prospective. At this rate of decline the post-industrial world will take a long time to fall back to the level of developing world.
I'm not saying there isn't a problem. I'm just saying it's not as big as it might appear upon naive reading of those statistics.
The American Empire is passing. New powers are raising in the world. So what? It's really not that big of a deal as long as global civilization itself continues to progress.