the most perceptive among us understood the growth of American prosperity was unsustainable, and breeding the seeds of its own destruction. This is what the 60s generation learned in college (and Vietnam). But the inertia of history delayed the result, and obscured the causes. We all knew things were starting to unravel, but we couldn't say how, or when. As it turns out, the effects manifested themselves economically, and in unexpected ways, only when we reached middle age ourselves. They were so long in coming most who foresaw them forgot, and bought into the program after all. They all vote Republican now.

Our political and economic systems failed us, so it is no surprise we were also culturally unprepared for what was obvious then, and now: American prosperity could not continue growing forever. Rather than use our great wealth to help soften the effect of the blow that was coming, we squandered it on luxuries and gambled it away on get-rich-quick schemes.

As for your final question, the answer should be clear. When people are conned, they lapse into denial. They cannot accept that they bought into the lie, so they have to refuse to accept they were lied to and blame their problems on shadowy conspiracies and sinister villains. This is the origin of all fascism, Bowser. When the middle class realizes they've been marched off to the slaughter, they refuse to accept it, and they refuse accepting responsibility for their complicity in their own victimization. They need to find a scapegoat, and there is never any shortage of demagogues ready to provide one.

It happened in Spain, in Italy, and in Germany in the 30s. It almost happened in Britain, France and the US during that same time. And I'm afraid its going to happen here now.