Seriously, to keep it PC you should not use the term "American" solely for someone from the US. It's mainly the other contries {excluding Canada} that get pissed off for not being thought of as American {Canada normaly acts the other way, since they like to not be 'americans'}. As for "conventional use"... well, I stick to the old ways of English, like "Dice" being the plural and not needing "dices" as a plural of itself. I'm one of those "grammar nuts" who really likes things to be said correctly... although I do suck at spelling.
I'd say if the US economy were to completely stop (which won't happen) there would be a hella lotta problems. Overproduction would be rampant, so prices everywhere might drop. Huge falls in demand would, well, ruin everything. However if it happens after China, India (and a few other Asian countries) form a new trade block and get it up to speed, it'd probably just push the world into a resession... as oposed to cataclysmic breakdown of "paper money".
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