Think back a couple of decades to 1996 or 1997. The economy and stock market were booming in what would become the longest economic expansion in U.S. history. The unemployment rate was below 5 percent. Elsewhere, America’s dominance seemed indisputable. In technology, we led in software and personal computers. After the Soviet Union’s collapse, the United States was the sole superpower. We prepared for a prosperous and placid future. But it was not to be.
The Revenge of Unrealistic Expectations
