I keep hearing that the European Union will challenge American power. Not with the pending demographic problem Europe faces they will. Worse, they don't seem prepared for it. Neither does Japan - who was supposed to overtake America in the 1980s.
America will continue to face problems and issues and it'll probably get worse before it gets better. We're already seeing a stagnant Congressional culture and one that can be defined as "generational" as the Baby Boomers continue to define and dictate the political landscape.
Demographically and financially, if we're to use this as a measure, the baby boomers may, according to researchers, provoke and unleash a great economic downturn (recall that the stock market woes in the 1970s were worse than the 1930s in real terms) as they liquidate their assets. It's impossible to know what they'll do with their investments but let's assume they cash out. If they do, watch out. Encourage them to save or else we'll be in some trouble.
As bad as this will be for financial markets around the world, real opportunities will come. America's demographic trends are still far better than most (if not all) Western countries and the next generation (X's and Baby Busts like me) will pick up the slack and (hopefully anyway) reinvigorate the North American continent.
I know, I'm simplifying things but methinks there's an opportunity somewhere in all this.
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