And the winners are China, and then India, and then the U.S.  According to this article that summarizes statements from Citigroup's chief economist Willem Buiter, the U.S. is going to slip to become the third largest economy behind China and India.  Why is this?  Well, Buiter gives a list of reasons - but there is a single underlying reason.  Simply put, for years now, the U.S. has been mismanaged by politicians that accept bribes for legislation that benefit a few, at the expense of everyone else. 

And the situation is only getting worse.  Welcome to a recent new invention:  The Super Political Action Committee (or SuperPAC).

The SuperPAC was made possible courtesy of the Supreme Court that removed most restrictions on independent political spending by corporations and wealthy individuals.  SuperPACs, in essence, can accept unlimited contributions.  Well, who has the money to contribute?  The top one half of one percent is going nuts creating SuperPACS by the dozens.  Here is an article about one created by Karl Rove - his SuperPAC raised 24 million dollars in just seven months.  Here is another one that describes how a single person can create and fund a SuperPAC.  What is done with that money?  For one, the money is used to influence elections (another way of saying sponsoring a candidate who then is forever indebted to the sponsor upon winning).

America wins Third - will America also win the title of Third World?