Hugh Hewitt's views on the economic situation are buttressed by a book he recommends - Walter Russell Mead's God and Gold: Britain, America and the Making of the Modern World.
As Victor Davis Hanson noted this morning: "Sometime in the next few days, wiser investors should see that trillions of global dollars are now piling up and could begin to prime the economy — and that still valuable stocks, for a brief period, are up for sale at once-in-a-lifetime bargains."
. . .There is also a new economy humming along powered by millions of highly connected Millennials doing business in new and very different ways. I know a number of them, and most of you do as well. They are outside of old structures and busy designing an economic future. For them, the collapse of stock prices is the greatest investment opportunity of their young lives since they can buy their first shares at these ridiculously low prices.
This is part of the dynamism that is described in Mead's God and Gold, a book that Hewitt thinks is vital reading now.
The unique hold role of the Anglo-Americans in modern times stems in part from the way in which these societies have come to believe that dynamism is their tradition: that they honor the past and acknowledge their roots by pressing on into the future.
Individual responsibility, grounded in ethics and common sense, was vital to that success. Mead explains why.
Kirkus Reviews writes, "Mead enlivens the text with numerous amusing and illustrative anecdotes, artful literary allusions and helpful invocations of great historians and philosophers. . .A remarkable piece of historical analysis."