Government Is The Root of All Evil - Or Is It?
Of course, Stockman's entire theme is that government is the root of all evil. Out-of-control greed on an historically unprecedented scale apparently plays no part. I am no fan of big government or bureaucracy, but there is deep irony that the developed nation that worships at the altar of "small government" has the most dysfunctional government in the developed world. Comparing Canada's government to the U.S. government is like comparing a library to a circus - one puts you to sleep and the other is for sheer entertainment. Even Turkey's President took a swipe at the U.S. shutdown this week. I suggest that having an effective and well run government is logically impossible if the overwhelming ideology of the country is that such a thing can't possibly exist.
The End of Mass Consumption
The elephant in the room that Stockman ignored and few if anyone wants to acknowledge at this juncture is that the Westernized consumption-oriented lifestyle was always doomed to fail. These trade deficits, fiscal deficits, money printing programs, food stamps are all just symptoms of the much bigger problem, which is the immutable fact that the consumption-oriented lifestyle is neither scalable nor sustainable across 7 billion people. The U.S. has 5% of the world's population yet consumes 25% of world resources so 3rd grade math suggests unambiguously that globalization was going to put an end to mass consumption. "They" want what we have and are willing to work a hell of a lot harder to get it. End of story.