The real test for America will be when a COME TO JESUS MOMENT hits the US economy, which is in a slow motion structural collapse.
The great accomplishment of FDR was that he gave Americans a THIRD WAY.... not communism, or fascism.
Rather, a New Deal....but things were so far gone by the time the New Deal started that it accomplished very little..... Only the War, the Keynesian blessing of deficit spending, and later on Bretton Woods, ended the Depression once and for all....
Since 1971 we have been in a post Bretton Woods period..... sort of muddling through...with high rates, then bubbles, then.....?
We need a New Keynes..... Or perhaps a concenus that Imperial America is over...The Pax Americana could become a multi-polar Peace by Euro-consenus.
Thus allowing the US to establish a post-industrial safety net before the "bonus armies" start to march again...!
