Health Care Law a Signal of US Empire Decline

The passage of ObamaCare is an indicator that the US empire is declining because it illustrates the fact that people expect the state to take care of them, David Murrin, the co-founder of Emergent Asset Management hedge fund manager, told CNBC.

In their expansionary phase, empires force people to go out, seek risks and fend for themselves, Murrin said. But as wealth grows in a country, the governments role grows, sapping its strength.

"This (empire decline) is actually a dead-set course that societies get into and it will happen very quickly I'm afraid," he told "Squawk Box Europe."

He expects China to grow much fatser than people expect, incluing its military strength.

"You have a lot more males in China then you do in the west," he said, noting that 56 percent of the Chinese society was male, because of the country's policies to control population and because of traditions which value males more than females.

"What that means is that they're far more risk-oriented than a society in the West…if you look at conflict and your ability to risk your males in conflict," Murrin explained.

According to Murrin, Africa has the best demographics in the world.

"I think Africa, as a generic theme, is the hottest thing in town," he said


"We all know there's going to be a change, the surprise will be the pace of that change," Murrin said, noting that "all empires when they decline they underestimate their challengers."

The full interview can be viewed here.