It’s a little late for Newsweek to be channeling Milton Friedman. They’ve already had their own near death experience. They should realize that the worst has happened.
maybe Newsweek is like Dylan’s Rosemary:
“She had done a lot of bad things, even once tried suicide
Was lookin’ to do just one good deed before she died”
Yes, it’s too late. The collapse will come, and if I had a crystal ball I would get rich.
My lamentable lack of oracular powers notwithstanding, there is no practical fix for our economic problems. Of course, anyone can come up with a rational plan for pulling back from disaster, but high purpose and rationality have little to do with public policy, especially in the public policy formulated by politicians representing a people whose character is as corrupted as ours.
We will see some half measures; brave initiatives that will fail; and, ultimately, a financial crisis and social disruption. Whether the left is able to use these developments to consolitate its power remains to be seen. But I would suggest that the energies of those who actually care about ordered liberty - which is inseparable from property rights and Christian moral standards - had better spend more time educating others about what will come and why and in preparing for it than in piddling away time and energy on politics.
We can use politics to gain time to prepare and organize, but political activity will not change what is coming; it will only marginally delay it.