Culture isnβt static, though. As the competitive pressure on a state changes, the cultural rules that helped support the empireβs growth are likely to evolve. An ethos of self-sacrifice or restraint in the name of the common good isnβt necessarily the most appealing, and as a population comes to feel ever more secure younger generations might dismiss traditional ways of doing things as staid and silly. Cultural entrepreneurs might mount sophisticated criticisms of established ways of doing things, and concoct alternative stories of national greatness which prioritize the pursuit of self-interest or the superiority of a mode of thinking which is deeply sceptical of the old cultural norms. It doesnβt matter if everyone in the empire is persuaded or not. If some people feel they have been given permission to do a bit more looking out for themselves and a bit less worrying about whatβs expected of them as upstanding members of society, that may well be enough to start to work on the cultural equilibrium.American women are leading the charge in being out for #1. When men stop simping and start doing the same, it's over for the USG. People need to realize there is "nothing in it for them" in perpetuating the US Empire.
...valuing the market at 51X LTM earnings during the present parlous moment in time β or even nearly 27X if you want to give the financial engineering jockeys in the C-suites a hall pass for $77 billion of mistakes and losses this quarter aloneβis nothing short of nuts.Sure, let's buy companies that will take 51 years to actually earn enough to reasonably profit from our investment. This isn't just betting on share price, no...