The following article was first written in 1998.
I am relinking it here not so much as to say
“I told you so”
but to point out that the long term economic future of the United States was obvious,
or should have been obvious,
to the people who are awarded lofty degrees
and paid huge salaries to comprehend such things.
the economists persisted in explaining away the visible signs of gathering troubles
and earned their salaries by justifying why the policies that robbed the poor to give to the rich
should continue unabated.