Saturday Learning Series - The End of America

Milton Friedman explains how the United States over the 20th century had cut the power to its engines and changed it's inevitable upward trajectory into one that could, if unchecked, lead to the end of America.

Descent Trajectory 2013-2016

I've been game theory playing out some of the scenarios for the fiscal cliff negotiations and I could not come to any outcome where the negotiations were successful prior to hitting the cliff deadline.  What I was able to conclude, was that it's not a cliff.  If it truly were a cliff, there would not be negotiations, only action to halt it. If you were in a car headed towards a cliff, you would not be in a debate about whether to turn the steering wheel or hit the brakes.  So take as a given that a deal does not get reached - barring complete capitulation by the Republicans, which seems to be not entirely out of the question.  Indeed at this point even if enough Republicans were to side with Democrats, it's too late to stop the car going over the cliff Thelma and Louise style.