We have an interesting spread here. We have one side Mike A. saying the 4T was triggered with the Nasdaq crash and John X. saying it was with 9/11, and then we have you saying 2008 and Steve B. pushing for then if not later (2008-2010, I believe).
Just what do people expect a 4T to bring? Does it make any sense at all that our obviously very fractious nation is going to suddenly forget the culture wars and join together to work on common problems?
We have plenty of problems. Take global warming. One side says this is equivalent to a life and death issue that we must all join together and solve. The other side says it doesn't exist. Take the culture of death. One side says this is literally a life and death situation (in the future, people are going to euthanized
en masse when they are not longer wanted by society) and the other says its a private matter and none of our (public) concern. I could go down the list, none of us is ever going to agree on what is and what is not a problem. This disagreement in itself is a crisis issue.
Inch by inch we sink into the quicksand, but since our progress is slow, its still a 3T. Suppose it never speeds up, we just get used to it? When that happens, when we learn to live with a new, more austere life, why then we have entered
the austerity period, what 1T's are called in countries that simply muddled through their 4T. The term High, with its positive connotations, is what is experienced by rising nations who successfully deal with the issues of the 4T . This is what makes them
rising nations. Those who muddle through have Austerity periods (which is what makes them in decline).
Look at what happened to the UK in their hegemonic crisis in the mid-19th century. They remained a financial power, but the next round of the industrial revolution happened in Germany and America, not in Britain. As a result Britain was replaced by America as the de facto hegemon in WW I.
The Americans did not act the role of hegemon, leaving it to a too-weak Britain. As a result American was hit harder by the next crisis trigger than Britain although the ultimate result of the Crisis was the collapse of the British Empire. The US did a good job of handling the last 4T and part of the next round of industrialization (the information economy) did roll out first in the US. We are having a lot more problems with another part (new energy economy), preferring to employ our hegemonic power to keep the old oil economy going. As is always the case, decline occurs when the nation uses its power to maintain the status of
existing elites, rather than allow new ones to emerge. This is what we seem to be doing, "muddling through".
Look at the fate of Spain in their hegemonic Armada crisis: spectacular collapse after the subsequent Awakening. How "High" was the 1594-1621 period for them? They got nine years of peace after 1609, compared to the decades Britain enjoyed after 1603. They saw their Portuguese possessions systematically swallowed by the Dutch juggernaut.
How did the Dutch fare after their hegemonic crisis (the Glorious Revolution). They remained a financal power, but the Industrial Revolution happened in Britain, the new hegemon, not the Netherlands, gaving Britain a new round of hegemony that the Dutch didn't get.
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Our government could raise taxes now to slash the deficit and force foreign central banks to buy
private debt. Our government could pull out of Iraq now, rather than wait until foreign central banks force us out at some later date. Our government could stop talking about Social Security, which isn't much of a problem, and start talking about Medicare, which is. But none of this is likley to happen, not because "we be 3T" but because WE BE 4T and whether or not to muddle through is what the crisis is about.
911 was our Sepoy Mutiny or the equivalent of the Boston Tea Party on the British. Like these, it is fundamentally an imperial issue. It's just that modern terrorists can strike at the homeland as well as in the provinces.