“In a dark time of the plague, COVID tore the illusion of the American state of emergency to pieces. At the height of the crisis, when more than 2,000 people died each day, Americans found themselves in a failed state ruled by a dysfunctional and incompetent government that was largely responsible for the death rates that drove America's claim to supremacy World added a tragic coda. ”
This is Wade Davis in a comment titled "The Unraveling of America" in Rolling Stone magazine, published August 6th, that paints a grim picture of the current state of the United States.
Wade Davis is an anthropologist at the University of British Columbia and his contribution to Rolling Stone has generated millions of page views since it was first published earlier this month. For some readers, comparisons have been drawn to a 2010 article by Matt Taibbi entitled "The Great American Bubble Machine" that focused on Goldman Sachs as "a vampire squid wrapped around the face of mankind".
In Davis' article, he suggests the days of US domination by the COVID-19 pandemic, which, according to Johns, has infected nearly 5.5 million Americans, or more than a quarter of the 21 million people worldwide to date , Hopkins University could be undone.
The criticism from the sister country of the United States in the north could be a heavy pill for some, as Davis says America's obsession with individual rights and freedoms at the expense of the community has been a key weak point for the nation.
"More than any other country in the post-war era, the United States has celebrated the individual at the expense of community and family," he wrote. “What was achieved in terms of mobility and personal freedom came at the expense of the common purpose. "
In a CBC article, Davis said that he is not making cheap recordings in the US, which is an ally and trading partner of Canada, but he believes his essay was an attempt to encourage widespread introspection.
“I see it like a family when you have to intervene. The first step is to hold a mirror in front of the individual's face to let them know what has become of themselves. This is the first step on the road to rehabilitation, ”Davis was quoted as saying by the CBC.
Davis isn't the only one questioning the prospects for the global superpower.
Earlier this summer, Stephen Roach, a senior fellow at Yale University and former chairman of Morgan Stanley Asia, warned about the US dollar
could face a challenge for its place as the world's reserve currency.
The prominent economist told MarketWatch in an interview that the dollar's decline could come at "warp speed" and that the era of US hegemony could potentially come to an end, citing a surge in the country's budget deficit and dwindling savings.
Of course, the list of those who wrote inaccurately about the downfall of the US and its place as a leader in the world is long.
Like Davis, Roach said the reactions to his article were very visceral.
Davis says his criticism had less to do with the dominance of the U.S. currency or the nation's leadership in the White House, but he does suggest that growing disparities between owners and non-owners could be the nation's undoing.
"The root of this transformation and decline lies in an ever-widening gap between Americans who have and those who have little or nothing," wrote Davis. "The elite one percent of Americans control $ 30 trillion in assets, while the bottom half has more debt than assets."
"All countries have economic disparities that create tensions that can be as disruptive as unjust inequalities," he continued.
“What any prosperous and successful democracy sees as fundamental rights – universal health care, equal access to quality public education, a social safety net for the weak, the elderly, and the frail – America rejects as socialist indulgences, as if there were so many signs of weakness . "
His warning comes as the S&P 500 stock index hits its first high since February 19, marking an unofficial end to a bear market that has caught the benchmark
and the broader market, including the Dow Jones Industrial Average
and the Nasdaq Composite Index
However, these new highs for the broad market stock market benchmark can only highlight the fact that the U.S. economy and the economy for much of the developed world remain in tatters amid the COVID-19 pandemic.