The US empire, like any other empire before them will be replaced by something else.
Of course you are American, by the mere fact of being born there your have privileges over people born in the rest of the world.
For example, any time you have problems you print money,money that thanks to petrodollars and US military the rest of the world have to buy by force. You export inflation to the rest of the world.
So instead of you suffering for your own abuses, you make suffer the rest of the world. Every new QE(Quantitative Easing) makes people from Egypt go from 30% of the population not being able to buy the basics to 70% and so on.
The rest of the world is not happy, and of course they plan to replace the petrodollar as soon as they can, to replace the "Exorbitant Privilege".
Of course as an American you believe this is fantastic, but put yourself into someone else in the world skin just for 5 minutes or so. People that work much harder than Americans but live way worse, people that speak at least two languages(most Americans barely speak one), engineers, physics PhDs, whatever, and you will start seeing another picture.
Note that the dollar as reserve currency means the the rest of the world is exporting unemployment to the US via currency operations. http://www.foreignpolicy.com/articles/2011/09/07/an_exorbita... has a good analysis of the situation there. The US would be much better off economically if USD were not the world's reserve currency. In particular, we wouldn't need the QE business at all if we weren't having China's and Germany's unemployment forced on us.
Of course it's simpler to latch on to the phrase "Exorbitant Privilege" and hate the US than it is to try to analyze all the pieces of what's going on.
The US empire, like any other empire before them will be replaced by something else.
Of course you are American, by the mere fact of being born there your have privileges over people born in the rest of the world.
For example, any time you have problems you print money,money that thanks to petrodollars and US military the rest of the world have to buy by force. You export inflation to the rest of the world.
So instead of you suffering for your own abuses, you make suffer the rest of the world. Every new QE(Quantitative Easing) makes people from Egypt go from 30% of the population not being able to buy the basics to 70% and so on.
The rest of the world is not happy, and of course they plan to replace the petrodollar as soon as they can, to replace the "Exorbitant Privilege".
Of course as an American you believe this is fantastic, but put yourself into someone else in the world skin just for 5 minutes or so. People that work much harder than Americans but live way worse, people that speak at least two languages(most Americans barely speak one), engineers, physics PhDs, whatever, and you will start seeing another picture.