What Lawyers Do

In a previous post, I wrote about Kevin Phillips’ latest book, Bad Money, which I believe provides a good overview of the current financial debacle we are in.

Phillips pulls no punches - he believes that America is a leading world power on the decline, much like the Spanish, Dutch, and British before us. To that end, he points out signs of decline that have been present throughout history when empires such as those mentioned above began to fade. See if you think they are once again rearing their head:

1. A popular sense of national decay with economic, moral, and patriotic components;
2. Intensified religion;
3. Faith coming into conflict with science;
4. Imperialism and military overreach;
5. Excessive debt;
6. The rise of finance at the expense of industry, agriculture, and other forms of economic activity; and
7. Loss of fuel and energy dominance