Americans beLIEve they are rich when in fact they produce nothing. They are consumers of resources with a "broke" mindset. Most Americans suffer from Cognitive Dissonance and Stockholm Syndrome. Unfortunate, but true.
Discussion
Narcissistic
Its a system that has served them well, but now their spending is accelerating beyond their ability to prevent the currency to depreciate due to private liabilities to borrowers and foreign markets. There is an option for them to double down and continue the spree but this will result in de-dollarization as private money cant keep up the value the inflationary value of internal spending creates. What bothers me is my third-world ass seeing everyone spend double in basket size for one unit of currency but still fall into cost-of-living traps that capitalist frameworks have created by manipulating strategic markets tied to the determined value of the currency to ensure lack of wealth export and abuse of reserve currency status via stock hedging. Ultimately it means across a lifetime I can be as productive as anyone and be compensated a quarter of the value through negligent, corrupt and backwards economic policies and systems which focuses more on the protection of existing wealth frameworks rather than enriching more citizens even when the population grows exponentially.