The future is catching up with the present. The American psyche is – or was – obsessed with consumption paid for by debt – in other words, live today at the cost of tomorrow. It’s a me household and a me budget deficit. Production, savings and innovation are deferred for a nether future. We’ll pay for it after the party. Except what happens then and who takes the hit?
With a sordid history emblazed upon the memory of the older Chinese, the nation feels they can only move up. America has already achieved so much. It’s gotten rich and drunk with self-importance. It’s harder to climb and further to fall.
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