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February 13, 2012
Binyamin Rose: Back to the Bunker: How a life-risking act by a Christian family during the Holocaust saved a family and built a thriving community a world away
Menachem Wecker: Business Schools Teach Real Estate Despite Troubled Housing Market
February 10, 2012
Lisa M. Krieger: Man with defibrillator demands access to his own heart's information
David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage
February 9, 2012
Laura McMullen: 10 Least Expensive Public Schools for Out-of-State Students
Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation
February 8, 2012
Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups
Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs
The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets)
February 7, 2012
Frank J. Gaffney, Jr.: Caught off-guard? President's Super Bowl interview with Matt Lauer gives those who need a reason not to vote for him, a darn good one
Suzanne Bohan: Leaping lizards! Tiny reptiles advancing robot design
February 6, 2012
Jonathan Tobin: Iran Threatens Israel With Destruction, But the New York Times Doesn't Hear It
Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland'
Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good
Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard?
February 3, 2012
Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US
Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling
February 2, 2012
Jim Carney: Wrong number call may have saved her life
Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran
Tina Susman: For woodchuck rescuer, every day is Groundhog Day
February 1, 2012
Brian Bennett: US officials see increasing threat of domestic attack from Iran
Emily Brandon: How to Take Advantage of New 401(k) Fee Disclosures
January 31, 2012
January 30, 2012
Paul Richter and Ramin Mostaghim: Misreading Teheran's limits -- deadly and economically devastating as they may be -- is a risk administration, Europe seem willing to take
Suzanne Bohan: Warning: Nap-deprived tots missing more than sleep, study finds
Meg Handley: Banks Revamping Rewards Programs to Woo Customers
January 27, 2012
Caroline B. Glick: Obama: Of course I intend to prevent a nuclear holocaust . . . in a few months
Yochonon Donn: In liberal New York City, fervently-Orthodox Jews may soon be getting a district to call their own
Jeannine Stein: An inflated ego and thinking you're 'all that' doesn't just make others sick of you, it can make you ill
Katy Hopkins: New budget rules may affect how much money you get for college
January 26, 2012
Ed Koch: To the New York Times, calling for the murder of Jews by those capable of having their incitement taken seriously isn't news
Jeannine Stein: Mental illness struck one in five U.S. adults in 2010: Report
January 25, 2012
Richard Simon: House passes two bills endorsing the use of religious symbols at military memorials
Fred Weir: Putin: Multiethnic Russia cannot survive as a US-style 'melting pot'; must find its own way
Susan Johnston: 5 Sneaky Coupon Strategies Consumers Should Watch Out For
January 24, 2012
Carol Clark: The price of your soul: How your brain decides whether to 'sell out'
Caroline B. Glick: America lost most in 'Arab Spring'. Sadly, many voters still don't grasp the extent
Warren Richey: Drug criminal scores win in GPS ruling from conservative-leaning high court
Erika Bolstad: Black conservatives gather to talk about gaining strength
January 23, 2012
Melissa Dribben: Jewish voters to play a key role in Florida's Republican primary
Jordan Rau: In quest to grow, Catholic hospital system will announce this morning its break from church
Ali Safi: U.S. envoy gives Taliban terms for peace talks
January 19, 2012
January 18, 2012
January 17, 2012
Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be
David G. Savage: They sued their principals after slandering them online --- now the cases are headed to the Supreme Court
David Francis: Where to Invest in 2012: With stocks expected to rebound, opportunity abounds for investors
January 13, 2012
Ben Lynfield: Israeli lawmakers move to annex Jewish Judea, one museum at a time
Alexia Elejalde-Ruiz: Thriving through touch: Gentle massage helps older people with low mobility improve in mind and body
January 12, 2012
Warren Richey: Landmark Supreme Court ruling a 'resounding win' for religious groups
Warren Richey: Supreme Court says no to new rule on eyewitness testimony
John Fauber : Statins found to raise diabetes risk in postmenopausal women
Katy Hopkins : Consider This Before You Pay for an Online Degree
The Kosher Gourmet by Joseph Erdos: This mushroom and barley soup has an intense -- almost nutty -- flavor that mixes robust with Middle East. It has creaminess without cream
January 11, 2012
Shari Roan: Millions of atrial fibrillation sufferers at risk for devastating, but preventable, stroke
Tom Hussain: Pakistan -- recipient of more than $21 billion in civilian and military aid -- speeds pursuit of Iranian pipeline, defying US
David G. Savage: High court signals it won't be loosening TV's 'indecency' rules
Stephen Ceasar: Oklahoma's Islamic law amendment can't go into effect, court rules
January 10, 2012
Reza Kahlili: From an ex-CIA spy: US must exploit new split in Iran's Revolutionary Guard
Karen Kaplan: Study: Nicotine replacement products ineffective when used in real-life situations
January 9, 2012
Michael Doyle: Put through legal hell over dream home, couple fought back hard --- all the way to Supreme Court
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Jewish World Review
June 23, 2008
/ 20 Sivan 5768
Americans should count their blessings
By
Paul Johnson
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http://www.JewishWorldReview.com |
One of history's great lessons that everyone in business ought to learn is that nothing is permanent. The world and its component parts are changing all the time, and this year's league tables are outdated by the time they're compiled and published.
The U.S.' long period of expansion has ended, and a time of turbulence and recession has begun. How long will this last? My view is that within a year the worst will be over unless the country indulges in a spasm of "reforms" that impose restrictive controls on the banking industry and businesses. Overreaction to downturns and adversity is always damaging. The Enron scandal, for example, encouraged an antibusiness and antiwealth culture in the Department of Justice that has done nothing but harm. We must guard against allowing the recent mistakes of bankers to generate an antibanking climate or the excesses of the real estate market to persuade the public that investing in property is foolish. As long as the U.S. maintains its creative traditions of freedom, especially in the conduct of business, it has nothing to fear in the medium or long term. It will still insofar as such distant projections can be made be the world's strongest and richest society by midcentury and, indeed, by century's end. The U.S. works so let's not try to fix it!
A decade ago Russia looked to be almost down and out. Now it's riding the crest of the oil boom with arrogance and a disposition toward reviving its imperialist ambitions in the Caucasus and central Asia. However, I am reminded of that famous mid-19th-century saying, often attributed to Austrian statesman Metternich: "Russia is never as strong as it looks; Russia is never as weak as it looks." Oil prices go up and up, but when they come down they often do so surprisingly fast and without much warning. A country that pins its strength on the current value of one important but volatile commodity is not wisely led.
Of more serious long-term import is the quantitative and qualitative deterioration of Russia's population: its very low birth rates; some of the world's highest abortion figures; and worrying indicators in many areas of health and the tendency of Russians, especially males, to die in late middle age from alcohol-related problems suggest a society that is collectively sick in ways that could become catastrophic if not attended to. What will Russia look like by midcentury? It's frightening to contemplate.
China looms large on the eastern horizon, flooding the world with its cheap exports; producing impressive figures in production, investment and modernization; and striding confidently about the world stage. It's planning a tremendous show at this summer's Olympic Games in Beijing, which will in all probability create an impression of strength and efficiency.
But Mother Nature has reminded us that China remains vulnerable. The recent earthquake drew attention to much that is gimcrack about modern China from the quality of the concrete used in buildings, especially in the housing and schools of the poor, to the organization of its emergency services, which are better at posing in smart uniforms for propaganda shots than at getting aid to where it's needed.
The earthquake also brought into question the wisdom of constructing huge dams to provide electricity and water for rapid industrialization in a country where such powerful earthquakes are common. Building impressive dams, regardless of consequences, is a characteristic of Communist societies. When the U.S.S.R. collapsed, the outside world became aware of how ecologically destructive and economically inefficient the Soviets' Big Dam policy in central Asia was. China seems determined to make similar mistakes.
For these reasons I am skeptical of Russia's current strength and China's relentless expansion.
What of Europe? Traveling Americans are wont to compare the strength of the euro with the weakness of the dollar, drawing critical conclusions about the way Washington runs things. But Europe isn't exactly a group of healthy societies.
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Britain is undergoing turbulence similar to that in the U.S. but will likely take much longer to emerge from it. Its political parties are in complete disarray.
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France is beset by strikes, high unemployment and bitter public feeling over rising prices and the lack of opportunities for the young. The vast number of 18-to-25-year-olds migrating to the London area tells its own tale of disillusionment and despair.
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Italy seems even more desperate in its search for honest and effective government.
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Spain, having enjoyed a decade of rapid expansion, is sliding backwards again under its weak Socialist regime.
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Germany is in better economic shape, which is the principal reason that the euro has maintained its strength. But Germany also struggles with high unemployment, much bitterness and low public morale.
There are no political leaders of greatness on the horizon. Angela Merkel has proved a grievous disappointment. Gordon Brown has been branded a total failure after a year in office. Nicolas Sar-kozy is emerging as a lightweight. The fact that in April Italy again elected Silvio Berlusconi premier reminds me of what Dr. Johnson said of second marriages: "the triumph of hope over experience."
But the world continues to change. Some countries rise, others fall, and nothing is static. Americans have no good reason to doubt their future and should count their blessings.
Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
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Eminent British historian and author Paul Johnson's latest book is "American Presidents Eminent Lives Boxed Set: George Washington, Thomas Jefferson, Ulysses S. Grant". Comment by clicking here.
Previously:
05/20/08: Pajamas for Presidents
05/13/08: Literary woodlice boring needless holes in biographical bedposts
04/01/08: When markets come crashing down, send for the man with the big red nose
04/01/08: Quality for dinner. Pass the Fairy Liquid, Old Boy
03/25/08: In search of an American President with brains and guts
03/18/08: Technological warfare against mice won't work. Try cats
03/11/08: What is a genius? We use the word frequently but surely, to guard its meaning, we should bestow it seldom
03/03/08: Fiction as a crutch to get one through life
02/26/08: Impatience + Greed = Trouble
02/13/08: Shakespeare, Neo-Platonism and Princess Diana
02/07/08: Where Industry Has Failed Us
12/19/07: People who put their trust in human power delude themselves
12/12/07: What is aggression?
12/04/07: Pursuing success is not enough
11/07/07: Are famous writers accident-prone?
10/31/07: Courage needed to disarm Iran
09/20/07: Who Will Say I Promise to Lay Off?
07/24/07: Greed is safer than power-seeking
04/02/07: Benefactors must be hardheaded
03/07/07: American idealism and realpolitik
11/28/06: Space: Our ticket to survival
10/24/06: Envy is bad economics
10/11/06: Better to Borrow or Lend? Rethinking conventional wisdom
08/22/06: Don't practice legal terrorism
08/08/06: A summer rhapsody for a pedal-bike
08/03/06: Why is there no workable philosophy of music?
07/11/06: Historically speaking, energy crisis is America's opportunity
07/06/06: The misleading dimensions of persons and lives
06/06/06: First editions are not gold
05/23/06: A downright ugly man need never despair of attracting women, even pretty
ones
04/25/06: Was Washington right about political parties?
04/12/06: Let's Have More Babies!
04/05/06: For the love of trains
03/29/06: Lincoln and the Compensation Culture
03/22/06: Bottle-beauties and the globalised blond beast
03/15/06: Europe's utopian hangover
03/08/06: Kindly write on only one side of the paper
02/28/06: Creators versus critics
02/21/06: The Rhino Principle
© 2006, Paul Johnson
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