14 September 2010

The Doctor Is In

America’s problems are not imperial overreach, or social decay, which have brought down the world’s previous leading nations and peoples; they are profound but corrigible public-policy errors.

The nation was transformed into a white-collar fool’s paradise, where lawyers bill $1-trillion a year, manufacturing departs and too few people are actually doing anything useful.

The result: no saving, little investment and instant gratification on borrowed money.