It's certainly a global problem, not simply an American one.
I don't buy that we were otherwise occupied to notice...who didn't notice the stock market tanking or the economic slowdown? People were just too self absorbed to care about solutions.
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"Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery." - Winston Churchill
"All men dream: but not equally. Those who dream by night in the dusty recesses of their minds wake in the day to find that it was vanity: but the dreamers of the day are dangerous men, for they may act out their dream with open eyes, to make it possible." Seven Pillars of Wisdom, T.E. Lawrence
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