That’s correct. This was the only way for the world to pay for WWII and for the US to stem the tide of communism and Stalin’s Russia. Now that the Cold War is over, the US middle class isn’t sure it wants to foot the bill for maintaining this system that no longer seems to provide it much benefit and, in fact, has seemed to harm it. I think the world will see a decent amount of chaos as the US pulls back from protecting global trade routes. Unless all of the other countries of the world want to agree to a global socialistic society, I think the US will likely focus on building back its manufacturing base, opening and maintaining markets for those goods to flow to, reducing the Medicare and Social Security overhead so that this isolationist system can actually survive, and then politics will be focused on traditional values vs progressive ideas. Of course the internet will make this conversation much messier than it used to be in the pre-WWII days.

I’m interested to see how the shifting demographics affect this conversation. The three biggest things that shaped history are demographics, geography, and information flow. Two of these three are going to be significantly different since the last time the US moved towards isolationism.