Have we finally arrived at the gates of our richly deserved, post-party Hell, a la Japan 1990s? Or is it that we smell the first odor of stagflation, a return to 1973-74? Then again, given the gaudy carnival of the 1990s stock market, combined with the deflationary cost-curve of Moore's Law, are we throwing ourselves once more into the maw of a 1929 slaughter? My take is more optimistic, and I'll soon explain why, although it must be said that bungling into 1929 is ours if we want it. That scary possibility leads me to urge President Bush: Don't just cut taxes, Dubya. Cut government fat, too!
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