Welcome to the Twenty-First Century American Bankruptcy Show

Source: Ludwig von Mises Institute
by Stephen Anderson

“Many historians labeled the twentieth century as the American century, with many metrics used. The end of the Cold War in 1989 and the fall of the Union of Soviet Socialist Republics in December 1991 changed world affairs: several new countries formed, the Warsaw Pact dissolved, the economy of China rose, and many US military bases shut down. The twentieth century wound down with the US as the world superpower, and yet the vision of the 1990s was not clear for our political and military leaders going into the twenty-first century. One definition of bankruptcy is ‘utter ruin, failure, depletion, or the like.’ Entering the third decade of the twenty-first century with the perspective to see what has occurred since 2000 reveals this century is becoming the American bankruptcy.” (09/12/23)