Tony Petroski

10 Reasons to Believe That We're in a Depression

Mr. Clark: Entertaining article.

"However, in the 21st century, cheap land, cheap labor and a younger demographic profile, suggests that in 20 years, the reins of power will be in the adolescent hands of a rapidly growing Asia."

Maybe. But they don't have cheap land, and their labor is getting more expensive, and they don't have a democratic means of transferring power.

The 21st Century is just getting started. The U.S. hasn't gone the way of Rome yet and we're in the Age of Obama.

We have more to contribute than military security (see how things go when the Pax Americana is spoiled) and entertainment. We have football, and the world will give up soccer once they see the alternative.

Three Innovative Ways to Hedge Inflation

It's curious that you don't recommend what has always been a great inflation hedge: real estate (please, don't laugh). If you are right about future inflation, and I think you are, then real estate will be a place to ride out the storm. Indeed, many of the present calamities from the shaky banking system to commercial real estate to homeowners underwater on their loans will start to heal in nominal terms if you are right. Do you think Bernanke knows this?