July 13, 2010

On American Decline

The unprecedented magnitude and speed of the decline are masked by the country's unprecedented standing as Y2K approached.

Unfortunately Americans, especially the elites, are behaving as though that unprecedented position was normal and to be taken for granted. (Remember Gore and Bush debating about how to utilize the surplus? It didn't occur to them to debate how to maintain the surplus. It's not surprising that Bush squandered it, and no doubt Gore would have done so too.)

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