The nature of this thing is that everybody has a different belief as to which of the component problems in a difficult situation is most important, and there is seldom a majority view of what should be tackled first. Data with groups has demonstrated very clearly that there exists a phenomenon (I'll call it a 'thing' for short) called SPREADTHINK which is inherent in groups. But probably there is not much awareness that research has been done with groups showing that even when groups are very motivated to reach agreement, the likelihood is very high that they will NOT under the normal type of group interaction. The citizen can often see that political bodies have problems reaching agreement. But what if no one is left around which a consensus can form? What if the last nail has been driven in the last economist, and there is not enough support for the Rothbart-Hayek-Mises company to enable a system to be put in place in a timely way? After all, this last group demands understanding of a system-not a superficial grasp of a few elementary ideas promoted by a few politicians, but a deeper appreciation for how things are interrelated, and a willingness to think about the individual and the collective in the same framework.ДЄCHIEVING AGREEMENT AIN'T EASY. Whatever one thinks of Jefferson, whatever one thinks of Jefferson, whatever one thinks of Hamilton, whatever one thinks of Adam Smith, whatever one thinks of Keynes, at least it is possible to operate an economy for a decade or two based on a consensus that revolves around a reasonable straightforward economic philosophy.

Seriously, without Greenspan around to keep using increased debt of one kind or another to bail out the last screwup, who will be able to stem the deluge, and how? The goldbugs may have the resource to stay afloat in the deluge, but how will the infrastructure continue to function in the confusion that is likely to accompany an economic collapse? It doesn't take a lot of gold to weight you down, and those 100-ounce silver bars are mighty good paper weights. And to those who expect the bubbles to burst with a giant pop, there is reason to suppose that this famous phrase may be relevant once again as a descriptor of the future. AprГЁs moi, le deluge, literally 'after me, the flood,' the French phrase is attributed either to King Louis the XV or to his mistress, Madame Pompadour.

Apres moi, le deluge