Pride of Place

I tend not to discuss the economy, because money is a mystery to me. I probably should have paid more attention to it through my life, but I've come to the conclusion that I'm a grasshopper, not an ant. So, you won't be hearing much from me about the Bear, Stearns bargain-basement sale to JPMorgan/Chase (which, by the way, used to be my bank: I left because they treat their customers like shit). (For some comments on some of the foundation of the mess, see this post by publius. For some informed commentary on this and other economic issues, see places like Crooked Timber and The Agonist. Avoid Megan McArdle -- she's just a rich suburban girl with pretensions to intellect.)

However, this comment by Juan Cole struck a chord:

I can still remember, as a child, the other children on the playground boasting that the US was the greatest country in the world, and the pride we all took from that. Predictably, George H. W. Bush's cokehead son has managed to reduce the US to the second largest economy after the eurozone. Bush was second best all his life, and has managed to make America second best.

Thanks to Steven D at BooMan Tribune