"...Nineteen years after 9/11 (and nearly 28 years after the election of Bill Clinton), the same Boom generation remains ultimately in charge....
"...Eventually a private count indicated that Gore had in fact won. By that time, however, 9/11--the Boom generation's big moment in foreign affairs--had taken place. The neoconservatives that ran the foreign policy of the Bush II administration used it to embark upon a crusade to remove hostile regimes and impose democracy on the Middle East.That crusade now lies in ruins...territory occupied in 1967. Now the Israeli government is poised to annex much of it....The financial crisis of 2008 showed the folly of deregulating Wall Street and the banking system and throwing away the restraints that had been imposed in the Great Depression. An insane real estate bubble burst, revealing a highly unstable pyramid of debt and threatening the whole world economy.
"...Political leaders, economists, bankers and financial leaders from the Boom generation got together to use the Federal Reserve Board and a Congressional guarantee to provide the private institutions that had destroyed themselves with liquidity to ride out the crisis....
"...Yet the rational solutions that the mid-20th century developed to solve our economic problems seem to have made too many powerful interests unhappy to have lasted. A new postwar generation also rebelled against the authority and discipline, in virtually every area of life, that had gotten us where we were when they were born...." DK
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