WHEN SEPTEMBER COMES

The world is swiftly moving to the dangerous place where nations won’t be able to do business with each other because they don’t trust the institutions that control wealth, which includes central banks, commercial banks, and governments. It will happen when the purveyors of international commodities, oil especially, refuse to accept the letters of credit issued by untrustworthy intermediaries. And when that dark moment arrives, nations will throw tantrums. The USA may be the loudest baby in the playpen.

The USA is veering into a psychological space not unlike the wilderness-of-mind that Germany found itself in back in the early 20th century: the deep woods of paranoia where our own failures will be projected onto the motives of others who mean to do us harm. Of course, even paranoiacs have enemies. There are quite a few others who would like to harm the USA, at least to bamboozle and paralyze us, to push back against our influence on their culture and economies. But the tendency here will be to magnify the supposed insults while ignoring our own suicidal behavior.

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