https://www.marketplace.org/2023/11/21/with-mexico-the-top-u...
Holy fuck man, the audacity of Americans.
Not sure if enough happened to count, though.
People like to remember the Battle of New Orleans, except the war was already over. Good thing the Brits were preoccupied with Napoleon.
The Roman Empire also showed plenty of what people would see as obvious signs of decline during what we now call its rise.
The idea that an Empire follows a 3 act trajectory of rise, plateau, and fall is incorrect or at least incomplete. The history of empires is one of multiple waves of expansion and contraction. The peak can only be seen in hindsight.
While you’re in it, you might be able to see the slope, but there’s no way to tell whether you’re headed towards local or global maxima or minima.
If you’d asked a Roman on the street in 53 BC, after a Roman army had been decisively beaten by the Parthians, he probably would have been worried about obvious signs of decline as well, but that was well over a century before what most people think of as the peak of the empire.
That’s not to say America can’t be sliding off of a global maximum, but there’s absolutely no way to tell until it’s over.
It wasn't rocket science, make it advantageous to produce your goods sold in America in America. Economies of scale will follow and make it true that producing goods for export makes sense too, even with the tax hit.
The TCJA could be having a larger impact, with immediate expensing of capital costs and depreciation provisions, but it was also passed 6 years ago.
My point was that the bare numbers could mislead a bit.