How to Cover Wall Street

With America’s economy pummeled and its financial system all but socialized, a once-unthinkable reality has dawned on the populace: we may not be the world’s only superpower for much longer.

True. But neither will anybody else.

Over the past year, the U.S. economy softened as that of two erstwhile underdogs emerged: India and China. Good money was on Russia and Brazil seeing increased economic strength, too. And as pundits marveled at the breakneck speed of these emerging economies’ growth, the thinly veiled subtext to their awe was, “how much trouble are we in?”

China and India presented a real threat to America’s status as top economic dogs, and it stood to reason that our power might recede as theirs rose. Then came the fall of 2008.
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