Like second century Rome, we have our own "Bread and circuses," have debased our currency and engaged in irresponsible fiscal policy, have seen a deteriorating quality of national leadership and even witnessed a decline in patriotism and a sense of national community.
The Federal Reserve apparently has either not learned or has irresponsibly ignored a long-observed relationship that I taught in the first month in Principles of Economics classes: when you print a lot of money and drop it out of airplanes, you will increase prices, which causes inequities, retards investment needed for economic growth, leads to declining confidence in the dollar, etc.
Tons of books have been written about the debilitating effects on lower income Americans of our welfare system.
If the employment-population ratio today were what it was at the very beginning of this century, we would have 11.6 million more working Americans, and probably a good deal less poverty.
International test scores in general are embarrassingly low in modern times for young Americans compared with compatriots in other countries.
To cite just one: Americans seem like they are losing somewhat their fervent and abiding love for country and our sense of togetherness-e pluribus unum.
An important reason is that a growing proportion of Americans are not adequately aware and therefore appreciative of our glorious past.
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