The net conclusion? The enormous US imbalance: no longer winning wars, less political clout, economically bankrupt but still powerful, shaping the world culturally. Wise US policy would celebrate the last two; unwise policy would Make America Great Again-military-political, as Trump wants. Drop “Again” Mr. Trump, Make America Great! Will do. And wise world policy? Celebrate the military-political decline of the last superpower, fight lex americana, treat US$ like any other currency–in baskets with others or not–and the US federal reserve bank like other central banks. Normalize the USA from the outside.