In an article which appeared in ShanghaiDaily.com entitled American shopping spree led to global economic crisis By Wan Lixin  The article touches on a book by Richard Duncan “The Dollar Crisis: Causes, Consequences, Cures” and Mr. Wan Lixin adds his view of the US Financial situation.

According to professor Chen Ping, the US will resort to monetary policy to stimulate growth, and, in case of failure, turn to fiscal policies through infrastructural investment. Failing all these, it can simply start a medium-size war.

Chen is professor of economics of the China Center for Economic Research, Peking University, and a senior research fellow at Fudan University.

“Since the World War II, especially since the 1960s, in America and the rest of the West, human beings are more and more seen as ‘economic animals’ informed by materialist aspirations, and deriving maximum materialistic satisfaction seems to be the whole meaning of human existence,” Chen said.

—This is a separate chart, not related to the article above but I believe illustrates the situation.