The US jumped the shark in 1971. A comeback is very unlikely.
After WW2, the US established a system that was used extensively for its own economic advantage: Bretton Woods.
Many countries could use dollars as their reserve currency, and those dollars could be redeemed for gold.
The US abused this system by printing more dollars than what it had in gold, giving rise to the concept of "exorbitant privilege" (virtually unlimited money with no chance of accountability).
This started some sort of bank run and since the US did not have enough gold, Nixon suspended the convertibility of dollars into gold. After that, dollars were allowed to float, and if it wasn't for exclusive deals (e.g: oil), it would have a much lower value.
Now spending on healthcare, education, infrastructure, science, space exploration: all gone.
After WW2, the US established a system that was used extensively for its own economic advantage: Bretton Woods.
Many countries could use dollars as their reserve currency, and those dollars could be redeemed for gold.
The US abused this system by printing more dollars than what it had in gold, giving rise to the concept of "exorbitant privilege" (virtually unlimited money with no chance of accountability).
This started some sort of bank run and since the US did not have enough gold, Nixon suspended the convertibility of dollars into gold. After that, dollars were allowed to float, and if it wasn't for exclusive deals (e.g: oil), it would have a much lower value.
Now spending on healthcare, education, infrastructure, science, space exploration: all gone.