When I look back over my life, I am struck by how destructive America was in my lifetime – particularly after WWII, which I can barely remember – but was clearly a turning-point. We came out of that the strongest nation in history – but this prosperity did not last.
What went wrong?
I can only answer for my family – a fairly typical Midwestern family. My father was a small businessman. He made a lot of money during the War, and for 10 years, or so, after that. Then, during the Fifties, he tried to start a couple of businesses, but failed, and had to live of off his savings – which became badly depleted. However, Real Estate values increased dramatically during this period – and he, and his wife, were able to retire comfortably in the Sixties.
This pattern was repeated in many part of the country – especially in California, which had the biggest Real Estate boom in history. The people who benefited from these booms, credited themselves for their success – and overlooked the effects of the Market – that happened to benefit them. They just pocketed their money – and moved elsewhere.
This happened from 1970-2000 – when American businesses, and other organizations – became increasingly incompetent. They could not see that their country’s affluence was over – something they could not imagine. And when later, they were forced to see it – they blamed everything but themselves.
The Financial Crisis of of 2007-2008 should have taught them something – but it did not. This could be explained as the result of financial skulduggery – but something else was going on – Americans had lost faith in America – and had turned against it.
The American Dream was over – but they were not aware of this. The Great Destruction had destroyed them also.