Well said.
Newt:
A Study of History liberated me from any sense that we inevitably know how to keep America strong. It also engendered in me a deep sense that every generation faces the potential of serious challenges and that failure to respond effectively could mean the end of your civilization in a remarkably short period of time.
"A remarkably short period of time." Agreed.
The pattern is the same for the typical business cycle and the massive business cycle I call the Cycle of Civilization: Up slow, down fast.
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Gibbon on the human savage:
"His progress in the improvement and exercise of his mental and corporeal faculties has been irregular and various; infinitely slow in the beginning, and increasing by degrees with redoubled velocity: ages of laborious ascent have been followed by a moment of rapid downfall..."
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