"While rising empires are often judicious, even rational in their application of armed force for conquest and control of overseas dominions, fading empires are inclined to ill-considered displays of power, dreaming of bold military masterstrokes that would somehow recoup lost prestige and power," the historian Alfred W. McCoy writes in his book "In the Shadows of the American Century: The Rise and Decline of US Global Power": "Often irrational even from an imperial point of view, these micromilitary operations can yield hemorrhaging expenditures or humiliating defeats that only accelerate the process already under way."
The worse it gets at home the more the empire needs to fabricate enemies within and without. This is the real reason for the increase in tensions with Russia and China. The poverty of half the nation and concentration of wealth in the hands of a tiny oligarchic cabal, the wanton murder of unarmed civilians by militarized police, the rage at the ruling elites, expressed with nearly half the electorate voting for a con artist and demagogue and a mob of his supporters storming the capital, are the internal signs of disintegration. The inability of the for-profit national health services to cope with the pandemic, the passage of a COVID relief bill and the proposal of an infrastructure bill that would hand the bulk of some $5 trillion dollars to corporations while tossing crumbs one-time checks of $1,400 to a citizenry in deep financial distress will only fuel the decline.
Because of the loss of unionized jobs, the real decline of wages, de-industrialization, chronic underemployment and unemployment, and punishing austerity programs, the country is plagued by a plethora of diseases of despair including opioid addictions, alcoholism, suicides, gambling, depression, morbid obesity and mass shootings since March 16 the United States has had at least 45 mass shootings, including eight people killed in an Indiana FedEx facility on Friday, three dead and three injured in a shooting in Wisconsin on Sunday, and another three dead in a shooting in Austin on Sunday. These are the consequences of a deeply troubled society.
The faà §ade of empire is able to mask the rot within its foundations, often for decades, until, as we saw with the Soviet Union, the empire appears to suddenly disintegrate. The loss of the dollar as the global reserve currency will probably mark the final chapter of the American empire. In 2015, the dollar accounted for 90 percent of bilateral transactions between China and Russia, a percentage that has since fallen to about 50 percent. The use of sanctions as a weapon against China and Russia pushes these countries to replace the dollar with their own national currencies. Russia, as part of this move away from the dollar, has begun accumulating yuan reserves.
The loss of the dollar as the world's reserve currency will instantly raise the cost of imports. It will result in unemployment of Depression-era levels. It will force the empire to dramatically contract. It will, as the economy worsens, fuel a hyper-nationalism that will most likely be expressed through a Christianized fascism. The mechanisms, already in place, for total social control, militarized police, a suspension of civil liberties, wholesale government surveillance, enhanced "terrorism" laws that railroad people into the world's largest prison system and censorship overseen by the digital media monopolies will seamlessly cement into place a police state. Nations that descend into crises these severe seek to deflect the rage of a betrayed population on foreign scapegoats. China and Russia will be used to fill these roles.
The defeat in Afghanistan is a familiar and sad story, one all those blinded by imperial hubris endure. The tragedy, however, is not the collapse of the American empire, but that, lacking the ability to engage in self-critique and self-correction, as it dies it will lash out in a blind, inchoate fury at innocents at home and abroad.
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