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Historian Niall Ferguson likens the US situation circa 2024 to a “late, Soviet America.”
He notes that in 1990, observers were noticing a “ghastly and tragic... loss of morality” within the USSR. “Apathy and hypocrisy, cynicism, servility, and snitching,” were running wild. Nearly half the population thought that theirs was an “unjust society.” USSR leaders were old party hacks...
The Soviet economy was largely fake... almost all of it directly or indirectly controlled by the Communist Party. The government ran chronic deficits... supporting a bloated military that looked powerful, on paper, but couldn’t win a war.
“Sound familiar?” asks Ferguson:
"Look at the most recent Gallup surveys of American opinion and one finds a similar disillusionment. The share of the public that has confidence in the Supreme Court, the banks, public schools, the presidency, large technology companies, and organized labor is somewhere between 25 percent and 27 percent. For newspapers, the criminal justice system, television news, big business, and Congress, it’s below 20 percent. For Congress, it’s 8 percent. Average confidence in major institutions is roughly half what it was in 1979."
Bill Bonner
The narrow strait is the most important chokepoint for the world's oil supply. Some 21 million barrels — or $1.2 billion worth of oil — pass through the strait every day.
Will a closed Strait hurt Iran? In terms of international oil sales, yes, but in terms of daily life, no. Iran pumps 3.5 million barrels of crude oil per day. The situation at this hour:
Most people hear “Hormuz” and think gas prices.
That’s part of it. But it’s bigger. It’s a central artery for global trade, and we talked about how disruptions hit second-order systems fast, including inputs tied to food production (field work and fertilizers), trucking, and downstream shocks in everything from shipping insurance to medicine, medical supplies, medical treatments and regional stability.
This is why the “we’re energy independent so it doesn’t matter” line is naive. In a globally priced commodity world, you don’t get to opt out.
Former Muslim Ayaan Hirsi Ali comes to Christ and discovers the supernatural Christian heritage of West, and how worldly families destroyed it. She is now married and living in the US.
"I like Os Guinness’s analogy of the cut flower civilization. I find it very vivid in regard to non-Christian conservative parents. Conservative non-Christian families are cutting themselves off from our foundational roots.
Let’s think about what happens to a plant when the roots die. What happens when you pick flowers and put them in a vase? Obviously, the flowers wither. And if you cut conservative morals off from Christianity, they fade.
"This decline is exactly what we have seen in the West over the last century and a half. Some people say the decay dates back to the Enlightenment. It’s a gradual fading that goes on and on. My fear is that we have landed in a place of moral wilderness.
"For the West to restore itself, it has to rediscover and revive its biblical roots. I insist that the biblical...
