I often wonder what the history books will contain when they look back years from now at the collapse of the United States empire.
Who will take the blame? They completely misdiagnosed the cause of the first Great Depression. For example, our current Federal Reserve chairman spent his life studying the Great Depression and has concluded that there was one overall mistake made during the 1930's: not enough liquidity/money was injected into the economy.
He is now in a position today to prove to the rest of the world that his thesis is correct. Unfortunately for the rest of the world, his tests will bring a new nightmare, far worse than the original.
But will historians tell the correct story this time? I'm not the only one who imagines how it will be told years from now.
Ben Stein, one of the great minds of our era, wrote a fantastic article this weekend in the New York Post. It is titled, "Decline and Fall: A view from 2089."
http://www.nytimes.com/2009/05/24/business/24every.html?_r=1&ref=business
_______
