"The US will always be the beacon of innovation in the world."

This is nonsense. Just ask Rome, China and every other country that had it's turn at the top of the heap. We can argue about how and when this will change, but the only thing we know for certain is that it will.

If I can't get a research position in the States, but can in Europe, that is a problem.

How does the job market for research positions and potential employee pool in the States versus Europe compare?

My impression is that it's rather difficulty in a number of European countries as well. Chatting with friends, it seems that there are a number of term positions in countries like Germany, but permanent positions are hard to come by.

I don't know the job market there. I was stating a hypothetical; I should have made that clearer. Given the post-doc situation, if another country were to dramtically increase funding for positions, America would see a brain drain.

Not always but it is destined to be at this spot for a very long time.