The Phaserl


A debt ceiling hiccup on the way to a 21st-century American world order

by Ambrose Evans-Pritchard, The Telegraph:

Those old enough to remember the 1929 crash on Wall Street and the US exit from the Gold Standard under Franklin Roosevelt – thin in numbers these days – will recall the pervading sense that America had already peaked, its capitalist model overtaken by history.

The Russian trade agency Amtorg in New York famously advertised for 6,000 skilled plumbers, chemists, electricians, and dentists, and suchlike, to work in the Soviet Union, then deemed the El Dorado of mankind, or the “moral top of the world where the light never really goes out”, in the words of Edmund Wilson. It is said that 100,000 showed up.

The commentariat went into overdrive, more or less writing off the United States. The Yale Review, Harpers, and the Atlantic all ran pieces debating the risk of imminent revolution.

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