In the aftermath of Hurricane Sandy, boats continue to litter the landscape on November 2, 2012 in Freeport, New York, United States. With the death toll continuing to rise and millions of homes and businesses without power, the U.S. east coast is attempting to recover from the effects of floods, fires and power outages brought on by Superstorm Sandy.
When an arrogant present dismisses the wisdom of the past, then an all too predictable future becomes terrifying.
By Victor Davis Hanson, American Greatness,
Victor Davis Hanson is a distinguished fellow of the Center for American Greatness and the Martin and Illie Anderson Senior Fellow at Stanford University’s Hoover Institution. …
Human nature stays the same across time and space. That is why there used to be predictable political, economic, and social behavior that all countries understood.
The supply of money governs inflation. Print it without either greater productivity or more goods and services, and the currency cheapens. Yet America apparently rejects that primordial truism.
The United States has borrowed about $29 trillion in debt—about 130 percent of its annual gross domestic product. The government will run up a $2.3 trillion annual budget deficit in 2021—after a $3.1 trillion deficit the year before. …