The biggest impact will be the change of the perception of individuality, role of government and the problems of excess diversity in a populace. The collapse of the American Economy and thus the government will be a huge shock to the world and will result in a thorough investigations and debates on how it happened.
I know it may sound like doom and gloom, but when I hear Bernake saying the rising deficit is a problem (finally!)and Obama sayings it ok to borrow to pay for healthcare, despite the fact he admitted the federal government is broke; then you know its all but over for the American economy.
Recently the, treasury secretary went over to china trying to assure them their money is ok and everything will work out and they'll get their money back..... *crickets* sorry, no one is buying that bull anymore and the world is finally waking up to Americans destructive spending.
Shame..really, the baby boomers inherited a nation that have never been so prosperous; industry and economy built by the great generation. those loving parents didnt want their children to suffer like they did with the depression, with war and wanted them to actually have a childhood that lasted all the way to the late teens.... too bad they blew it and now Gen Y will have to dig themselves out of an impossible hole their grandparents/parents dug for them...
When it all comes crashing down in a few years, young people will have every right to spit in their parents face, afterall they spat on you first!
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