Finally the boss of the American Federal Reserve confronts reality -and uses the dreaded ‘R’-Word.

How much more obvious does American decline to be to get Washington and the public to act?

The US Dollar is weaker then the Canadian Dollar.

The Euro has eclipsed the Dollar and stands good chances to become the dominant currency for reserves.

The US infrastructure is crumbling and underfunded.

The middle class is slowly disappearing, instead tent cities are appearing.

Even Wall Street and big banks are in serious trouble.

The Industrial-Military-Complex has worked in the past - but only because it employed massive amounts of people. Today’s streamlined and outsourced manufacturing no longer is a benefit to the American masses (only to the stockholders).

Who is to blame? A lazy US congress, a very bad President, the huge American deficit, the expensive war in Iraq and the total lack of good oversight of the financial markets and big business.

I wonder if most Americans will ever understand how long the Bush legacy, deficit and his idiotic war will burden their lives?