The article is typical of liberals, particularly European liberals that really don't have a clue what is going on outside their warm, soft, government funded cocoon.
Why did the USA rise to the top of the pyramid? Because it allowed people to utilize their skills and ambition to the maximum extent possible, receiving the rewards of success as well as the penalties of failure, with little government intervention.
Why do we have the current problems? Because over the years, the power and intrusiveness of the government has steadily grown. It is not due to a "conservative" or "liberal" government, its due to government. The housing bubble was as much a result of government intervention and meddling as poor decisions by home buyers and mortgage companies, the loss of national wealth is the result of government largess and promises that are impossible to keep, the loss of manufacturing and production jobs is as a much a result of government tax and regulatory policy as the attractiveness of the overseas workforce, the loss of international respect is due to the Bush Administration.
Obama won the election because he presented an attractive alternative. He spoke a populist message that touched on long standing themes that do well in America, he presented himself as the "post-racial" candidate, he is young, well spoken, intelligent family man. He presented himself as the anti-Bush in all the right ways. Too bad it was all a mask to cover the real Obama just so he could win the election. The real Obama is the antithesis of America, as people would have known if they had looked at his actual record, and not been lulled to sleep by his words.