BY JAVAR JUAREZ (CUBNSC) WORLD NEWS - Richard Wolff’s Last Warning feels like something from a horror film, yet it reflects the stark reality unfolding in America today. As an esteemed economist and professor emeritus at the University of Massachusetts Amherst, Wolff has issued dire warnings about the precarious state of the U.S. dollar and America’s waning global influence, particularly as BRICS nations rise in economic power.
The Reality for those of us living in America, is that we are living through a period of significant change—one that signals the decline of the American empire.
Wolff reminds us that Historically, empires do not collapse overnight, but their descent is rarely smooth. The rise is always celebrated, but the fall is met with denial and resistance. Today, the United States faces an undeniable downturn, yet our leaders refuse to acknowledge it. Instead, they project an image of dominance, while the world around us evolves in ways that leave us increasingly behind.
The Impact of the American Decline
Our military record reveals a pattern of failures. The United States lost the Vietnam War, a fact often ignored in mainstream narratives. We occupied Afghanistan for two decades, only for the Taliban to return to power. Our involvement in Iraq left the region destabilized, and now, we are witnessing another strategic failure in Ukraine. The long-standing belief in American military supremacy is crumbling in the face of reality.
At the same time, the global balance of power is shifting. Indonesia, a nation of 280 million people, recently joined BRICS—an economic alliance of Brazil, Russia, India, China, and South Africa. BRICS now encompasses over 60% of the world’s population and controls approximately 36% of global economic output. Meanwhile, the United States and its G7 allies account for only 28%. The world is repositioning itself, and for the first time in modern history, we are not at the forefront.
The Economic Struggles Ahead
The dominance of the U.S. dollar is waning. Once the foundation of global trade, its share in central bank reserves has dropped from 70–80% to about 40%. Nations are shifting towards alternative currencies, weakening the financial leverage we once held. China is leading this shift by offering more competitive economic partnerships and infrastructure investments that make American influence appear increasingly obsolete.
Domestically, debt is at record levels. Household, corporate, and government debt have escalated to unprecedented heights. Many businesses have become ‘zombie corporations’—surviving only by taking on additional debt to cover previous obligations.
Meanwhile, the United States relies heavily on foreign creditors. Japan and China are the two largest lenders to our government, with China holding nearly $850 billion in U.S. debt. Every year, American taxpayers contribute to interest payments on that debt, indirectly financing China’s economic rise while struggling to sustain our own economy.
Denying the Obvious
Our leadership continues to protect outdated industries rather than adapt to changing economic conditions. China’s BYD Corporation has surpassed Tesla, General Motors, and Ford in producing affordable, high-quality electric vehicles. Yet, rather than allow American consumers to benefit, the government has imposed a 100% tariff on Chinese EVs—not to protect jobs, but to preserve corporate profits at the cost of economic efficiency.
Simultaneously, inflation remains an unacknowledged crisis. Prices have surged while wages stagnate. Instead of addressing the root causes—such as corporate price manipulation—our government has opted to raise interest rates, further burdening working Americans. The wealthy remain unaffected, while everyone else struggles to afford
necessities.
A Dysfunctional Political System
Donald Trump capitalized on public frustration by presenting himself as an outsider willing to challenge the status quo. His rise reflected the discontent of millions who felt abandoned by traditional politicians. When the Democratic Party had the chance to counter with a genuine alternative, they dismissed Bernie Sanders—the only candidate openly addressing the struggles of the working class.
As Trump returns to the presidency, he continues to capitalize on a fractured system. While his policies often lack consistency, his appeal rests in presenting himself as a disruptor, unlike establishment politicians who recycle familiar rhetoric. However, this is little more than political sleight of hand. His latest executive orders have exposed the reality of his agenda—one deeply entangled in racism, bigotry, and deception.
Neither party is prepared to address our nation’s decline because doing so would mean admitting failure. Instead, they cling to illusions of American dominance while the rest of the world moves forward without us.
What Lies Ahead
The war in Ukraine is another lost cause. Russia has endured Western sanctions, and its economy is growing faster than ours. China and India have capitalized on U.S. miscalculations, strengthening their own economies in the process.
Meanwhile, tensions in the Middle East are escalating. Israel, long dependent on U.S. support, is facing increased global isolation. The shifting tides of international opinion are reflected in United Nations votes, signaling a decline in American diplomatic influence.
The crucial question we must ask ourselves is this: how much longer will we tolerate the status quo? The wealthy will always find ways to shield themselves from economic turmoil, but the working and middle classes will bear the brunt of decline. If we continue to accept this reality passively, we risk suffering the same fate as every fallen empire before us.
The world is changing rapidly. The only question is whether we will recognize this shift in time to adapt and reclaim some measure of control over our future, or whether we will continue living in denial until it is too late.
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