Adam Smith argued, “There is a Great Deal of Ruin in a Nation,” acknowledging that our political leaders must do a lot of bungling to bring down a powerful and prosperous country. Given the administrations we’ve had since the turn of the century, I wonder if we are about to find out just how much ruin we can take before the fall.

Rather than following his father’s example, George W. Bush invaded and conquered Iraq. After crushing Iraq’s military in Kuwait, George H.W. Bush refused to invade that nation to get rid of Saddam Hussain. The elder Bush realized this would upset the balance of power in the Mideast. Getting rid of one bloodthirsty leader would only empower the murderous mullahs in Iran at a significant cost to us. The younger Bush went ahead anyway with dire results.

Saddam Hussein had nothing to do with 9/11, so why focus our efforts on him? Afghanistan harbored the organization carrying out the attacks, which needed our attention so it wouldn’t happen again.

On the domestic front, the younger Bush administration was asleep at the switch while the housing crisis brought us the “Great Recession.” Others warned that the combination of cheap money and sub-par lending is combustible, but the powers ignored the signs.