"Rome has grown so much from its humble beginnings that it is now overwhelmed by its greatness."
"What we have freed ourselves of, however, is any genuine consciousness of how we might look to others on this globe. Most Americans are probably unaware of how Washington exercises its global hegemony, since so much of this activity takes place either in relative secrecy or under comforting rubrics.
Many may, as a start, find it hard to believe that our place in the world even adds up to an empire. But only when we come to see our country as both profiting from and trapped within the structures of an empire of its own making will it be possible for us to explain many elements of the world that otherwise perplex us."
"We are imperial, and we are in decline."
There was an entry earlier today here showing the trading ranges this year in gold and silver, and the stunning decline in the US Dollar Index.
The markets are winding for a move. I am not sure about stocks, but a large decline this fall would not be a surprise.
Greenspan says that stocks are not excessively valued, but that there is a bubble in bonds. Uh-huh.
If there is a bubble in bonds and it deflates, stocks will be crushed.
Risk is so mispriced in so many ways that is it almost astonishing.