“It’s going to get worse before it gets better.”

Ha! That’s meant my own private mantra lately. I think it was posted here a couple months ago, that I saw a Niall Ferguson video on the Recession, and he made the exact point that the US will emerge from the economic downturn comparatively stronger than the rest of the world because we’ll be viewed as the safest place for people to put money in, even though we started this mess. Any port in a storm…

Wretchard’s point about India/Australia is well taken. India has become a potentially huge ally (one of the great unsung legacy’s of Bush) just in the last ten years or so. Even if the rest of the world goes to pot, all we might have to do is hold on until India saves the day…

If things do get worse before they get better, America still has a plenty big enough cushion to recognize the problem and get its act together. Things looked plenty bad during the Carter years, hardly anyone predicted the Reagan revival.

We’re the sleeping giant; we just lie around until things get dramatic enough to make it an interesting show.