"Fall of the American Empire is NOT Inevitable"
D-DAY, JUNE 6, 1944
"THE BATTLE BELONGED THAT MORNING TO THE THIN WET LINE OF KHAKI THAT DRAGGED ITSELF ASHORE ON THE CHANNEL COAST OF FRANCE"
General Omar N. Bradley
US 1st Army commander
I didn't write the following but while traveling the Normandy Coast for the past several days I coincidentally happened by it by accident and thought that as I stand on the Omaha, Pointe du Hoc and Utah Beach Heads looking with awe and with a perpetual lump in my throat at just what that most important day in history really meant for what so many of us have come to take for granted.
"There is a popular notion that great success must eventually fade, that it is destined to implode. It happened to the Roman Empire and other great civilizations, so it has to happen here, right?"
"But look at the realities of a dynamic global economy that has survived some of the biggest "black swan" shocks imaginable: terrorism and war, systemic banking/housing collapse, devastating floods, tsunamis and earthquakes. Yes, capital was destroyed by these events."
"And yes, an "easy" Federal Reserve supplying fresh barges of credit can artificially re-stimulate the economy and create new bubbles and dollar devaluation. But is it false prosperity when thousands of American businesses are still creating valuable products, services and jobs for existing demand markets?"
"The idea that the American empire must somehow naturally suffer the fate of ancient Rome is good story telling and interesting "chaos theory." But there are no laws of physics or economics that prove it has to happen this way. Besides, the global economy is fantastically complex. And it is as resilient as it is subject to systemic risk and shocks."