Here’s What We’ve Lost

The confidence and hubris of those directing the rest of us to race off the cliff while they watch from a safe distance is off the charts.

The past decade of “recovery” and “growth” has actually been a decade of catastrophic losses for our society and nation. Here’s a short list of what we’ve lost:

1. Functioning markets. Free markets discover price and assess risk. What passes for markets now are little more than signaling devices to convince us the economy is doing spectacularly well. It is...