Cheer-up, America! The Case for American Optimism

Look for moments of maximum pessimism. To the legendary value investor Sir John Templeton, this was the secret to learning how to buy low and sell high.

In recent months, I’ve been feeling the pessimism in a big way. You probably have too. Watching the scroll of headlines on cable news channels this summer, I thought I was in an overdone disaster film. Riots break out across the globe, screamed a Drudge headline. Markets were crashing. An earthquake cracked the Washington Monument. In my hands, Mark Steyn’s new book After America — a rollicking read that makes a strong case that we should prepare for the apocalypse — arrived perfectly timed with the S&P’s downgrade of the United States’ credit rating. The end, surely, seems nigh.

Killing Bin Laden: An Act of Absolute Moral Clarity…and then there’s “President Boring.”

On May 1, 2011, President Obama announced to the world that he had personally shot Osama bin Laden in the head.

Well, not exactly. But it was close.

“I directed Leon Panetta, the director of the CIA, to make the killing or capture of bin Laden the top priority of our war against al-Qaida,” he said. “I was briefed on a possible lead to bin Laden … I met repeatedly with my national security team as we developed more information about the possibility that we had located bin Laden hiding within a compound deep inside Pakistan. And finally, last week, I determined that we had enough intelligence to take action … Today, at my direction, the United States launched a targeted operation against that compound in Abbottabad, Pakistan …”

When it was no longer sweet or noble to kill for the cause

If the great history lesson of the 20th century is that socialism does not work then the watershed event in that tragic enlightenment was the one that took place in Moscow 50 years ago this month – the so-called “secret speech” delivered by Nikita Khrushchev to a closed session of the 20th congress of the Soviet Communist party on February 25 1956, in which he mounted a devastating attack on Joseph Stalin, then not quite three years dead.