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March 6, 2014
Too many people frittered away the Design Margin.
It was spent and squandered by those both who felt it was immoral to be so rich and while simultaneously convinced these riches were inexhaustible.
It happened because too many worked tirelessly to take America down a peg or two, out of spite; and from a sense of unassailable superiority. People who thought it was OK to blow the stash; open the borders; downsize the armed forces. Guys who believed you could churn out paper dollars and issue empty threats ad infinitum. Because like Paul Krugman once said: we can invent an alien invasion from outer space if we need to. Belmont Club ｻ Ivan Ilyin
Posted by gerardvanderleun at March 6, 2014 12:33 PM. This is an entry on the sideblog of American Digest: Check it out.