Disagree.
The financial market/sector can crash very quickly, especially when it's not based on real economy (which is the case for US).
Overall, I say wait 10 years, and we see which of us will be right.
No need to wait. You are very wrong. Your doom and gloom sounds more like Gordon Chang from an alternate universe. Ten years is such an incredibly short horizon and a real crash is improbable. World economy is doing well and USD will still be dominant and equity/stock market is such a small proportion of Fixed Income. London and GBP are still a big part of world finance and trade 80 years after the British Empire ended. 1.3B people in China earn less than USD$1K per month thus still a very long way to go. Service industry skillsets are not very transferrable between countries by design/self-protection. Ten years from now, a typical American's barber/grocery bills, legal, and medical costs will only go up, not down. Simply too many reasons why nothing much will happen in the next ten years. The US and EU economic decline is only relative to the faster growth of the world economy and less than 1% per year.
US has been de-industrializing since the 1980's and I hope you agree it is still humming along. Credit Suisse publishes an annual summary of global wealth. Very educational and sobering. Look at past empires. The Italians, Spaniards, and Dutch are still doing rather well. So are the Swedes and Japanese. Sweden was the fastest growing country in the 19th Century. Japan is the fastest growing country in the 20th Century. Both are fading away gracefully. Same will happen to the US like simmering a frog. No sudden jolt or pain and it will be decades from now (like Detroit). Just like retirement collecting a nice pension (accumulated private wealth).
I hope you agree this fade-slow scenario is the best for all because it also means in the worst case China loses its global economic dominance in the 22nd Century, the Chinese people will still do quite well into the 23rd and maybe the 24th Century.
