Tuesday, April 21, 2009

The US and the Great Recession: wins in the long run

Michael Lind has a number of wonderful, and debatable, observations in his essays in Foreign Policy. His conclusion is pretty neat:
Otto von Bismarck observed that God favors fools, drunkards, and the United
States of America. The U.S.A. has been a lucky country, and despite its present
suffering it is unlikely that America’s luck has run out. Relying on the import
of money, workers, and brains for more than three centuries, North America has
been a Ponzi scheme that works. The present crisis notwithstanding, it still

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