Ray Dalio's "Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail"
History shows us that reversing a decline is very difficult because it requires undoing so many things that have already been done. For example, if one’s spending is greater than one’s earnings and one’s liabilities are greater than one’s assets, those circumstances can only be reversed by working harder or consuming less. The question is whether we Americans can face our challenges honestly and adapt and change to meet them.
But while we can’t know for certain whether the splits and conflicts in the US will increase or reverse, we do know that the long-term momentum is toward increasing division and this is a serious risk. The fact that the US is simultaneously deeply indebted, its international standing is weakening, and it is experiencing serious conflict should be concerning both to Americans and to non-Americans who depend on them.