Although it is rarely discussed today, August 15, 1971 was the date America came to her moral, cultural and economic crossroads. Unfortunately - and with enormous negative consequences for the future - President Nixon, with the full-throated endorsement of the political and media establishments , took America down the wrong path.
Between 2000 and 2008, two of the largest financial bubbles in history - in technology stocks and housing, respectively, - suffered spectacular collapses. Opinions vary, but some market commentators believe at the peak of the tech bubble, total stock market capitalization exceeded 180% of US GDP. To put this in perspective, the tech stock bubble was over twice the size of the 1920's stock mar