Thomas Friedman hits it on the head (again). The cause of our economic implosion, in the most general sense: we no longer had a rival to keep us honest.
We lost our two biggest ideological competitors — Beijing and Moscow. Everyone needs a competitor. It keeps you disciplined. But once American capitalism no longer had to worry about communism, it seems to have gone crazy.
Once the Cold War ended, we no longer had anyone to worry about. We embarked on a decade-and-half long orgy of self-indulgence, greed, and sloppiness and this …

All of America (ok, most) is currently frolicking in Barack Obama Wonderland, basking in his enlightened elevation and celebrating the end of an era of darkness and depravity. Hey, yours truly is no exception. I’m as ecstatic and hopeful as anyone. But here’s the rub. The honeymoon ain’t gonna last. At times, not so far in the future in fact, Barack’s honeymoon is gonna look more like Nick Cage’s half way through Honeymoon In Vegas. Ya know, the part when Jimmy Cahn was gettin busy with Nick’s fiancee in Hawaii, …