Backed by gold, those days are long gone. As far as I see its still capitalism, all the things produced are done for profit and they are cutting jobs and buying less and investingless just for the purpose of making profit which in turn is making people lose their jobs left and right.
Lets put it this way, the USA stopped producing and the whole world is suffering. Its like there is no market.
The us can print as much dollars as it wants, and military spending has little impact on the us economy.
You always amaze me with your post s nas, please enlighten us more with your wisdom. And instead of citing what was on the news for the past two years, please explain us and use some easy words.( everytime I read your posts the words are hard, very hard; but don't tell me my English is poor)