A few modest additions:

89 Toad Excellent point. Anyone who has travelled overseas and watched whatever American entertainment was available on TV can recognize what a horrible ambassador Hollywood has become. And since most people around the world can’t or won’t visit America in person, the propagation multiplier has to be huge.

It seems also like Hollywood went thru its Schumpeter remake in the 70′s led by films like Star Wars. Anyone remember how bad the film industry was in the late 60′s/early 70′s?

Lastly, it is very encouraging to see so many quality posts from names new to me at BC. It is great to hear from you all.