David:
When I consider the so-called peace dividends, I look at it from a different perspective besides international trades.
I am reading an autobiography/history book, "A Bright Shining Lie," by Neil Sheehan. A book about America in Vietnam, powerful writing. I cannot help but contemplate about the states of mind of many American people in that era. Anxiety of war; distrust of government; uncertainty of life for soldiers and their families; casualties of war. All these added up, and I would imagine that might have contributed to the turmoil in the economic cycles during the 70s.
Fast forward 2-3 decades.
Soviet Union by itself was a house of cards in the form of absolute power, cruelty, corruption, ignorance, self-destruction, more or less in that sequence. When Gorbachev tried to maneuver a few cards at the bottom of the stack, it came tumbling down. Its collapse, IMO, has much less to do with the American ways than what some politicians are claiming for.
Nevertheless, the sense of victory, dominance, and superiority could very well sink into the mind sets of Americans subconsciously, which help reinforce the complacency that we are witnessing everywhere today.
Having said that, I am not accepting any of the new-era crap proposed by AG and other bubble masters. As I said earlier, when the economic, social, political, and psychological tides are out of sync, the game will be over.
Just some foods for thought. I will leave the perception and judgment of these issues and their effects on the markets to the wisdom of each one of you. |
