This is a brilliant historical analysis. Said to see so few have read it. Veblen would say, we have already returned to barbarism, but no sense in splitting fairs over how uncivilized we have become. Also, Mr. Stillwell is correct the fiat money (after Nixon took us out of Bretton Woods) and hyper-financialization explains how hegemony unleashed US bankers on the World. Moreover, since our Ponzi scheme economy is predicated on unlimited growth to facilitate the ultimate power of the Debt/Death Star. Hence nothing will be done climate crisis. Such a long way down from the Commanding Highs, and like Peak Oil, we have already taken the leap but forgot our parachute.