The New Empire of Debt: The Rise and Fall of an Epic Financial Bubble by Addison Wiggin & William Bonner & Agora

Author:Addison Wiggin & William Bonner & Agora [Wiggin, Addison & Bonner, William & Agora]
Language: eng
Format: epub
Tags: Business & Money, Economics, Economic Conditions, Finance, Investing, Professional & Technical, Accounting & Finance
ISBN: 0470483261
Amazon: B002MZUQ9G
Publisher: Wiley
Published: 2009-07-29T16:00:00+00:00

Principles? Morals? There is no room for constitutional restraints, authentic values, or real virtues when you are building an empire.The heart overpowers the brain. Public chatter overpowers private thoughts. Public slogans drown out private acts of decency and courage. Empty words and big theories replace actual thinking.The public itself is charmed and bamboozled, then robbed, killed, or both.

Americans learned nothing from the French experience. De Gaulle warned Kennedy that Vietnam would be a graveyard for American soldiers. It was a “rotten country,” he said, unsuitable for Western ways of war. But in the inflationary boom of the first “Guns and Butter” administration, that of Lyndon B. Johnson, Americans thought they could do what the French couldn’t. They spent far more money than the French and lost far more men, but Giap beat them, just as he had the French.

While France and America enjoyed their defeats, Vietnam suffered its own dreary independence like a war wound. The whole country oozed a pathetic poverty for the next quarter century, scabbed over with a squalid ideology.

As of 2005, General Giap was still alive.The old man, 91 when he was interviewed by the Figaro in 2004, was asked what he thought of America’s situation in Iraq: “When you try to impose your will on a foreign nation you will be defeated. Every nation that struggles for independence will win.” Woe to empires.

“What we’ve done,” continued the old man, perhaps drifting into senile dementia, forgetting that his comrades set up a police state following his military victory, “was to fight for the right of each man to live and develop as he chooses . . . and the right of each people to enjoy national sovereignty.”

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