I’ve lost count of how many times I”ve heard someone say we’re in “uncharted territory” on the economy and possible fixes. The situation in the Middle East looks as bad as ever, but at least Iran doesn’t have nuclear weapons. Yet. As for global warming–wait until 40 zillion Chinese and Indians discover the pleasures of the internal-combustion engine.
Some days, the only consolation seems to be: We’ve been at the brink many times before, and somehow we’ve muddled through. Here’s proof from 1966.