“The Decline of the American Empire”

Perhaps you have noticed a common theme in my recent columns. Each policy proposed to solve our economic, oil or climate problems I have examined has a fatal flaw, and often more than one. New initiatives always seem dead on arrival.

On the economic front things are the same. Change we can believe in quickly morphed into a doomed attempt to return our flawed banking system to business as usual. As the Fed and the Treasury continue to bail out the banks, Arianna Huffington tells Tech Ticker’s Aaron Task that—

… the [Obama] administration is avoiding the big problems [in finance]…Tim Geithner and Larry Summers were creatures of Wall Street… [and they] are like people who still believe the world is flat. They see everything revolving around the Earth and in their case that’s Wall Street. That’s not good if you’re producing maps to navigate.

America is like an Obsessive-Compulsive who has lost his keys and keeps looking for them in the same drawer over and over again. We never tire of making the same mistakes, believing that “More Is Better” without acknowledging that it was this kind of flawed thinking that got us into this predicament in the first place.

Here’s what Paul Krugman said about California, which is a complete mess.

California, it has long been claimed, is where the future happens first. But is that still true? If it is, God help America…

What’s really alarming about California, however, is the political system’s inability to rise to the occasion

… and you have to wonder if California’s political paralysis foreshadows the future of the nation as a whole.


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