I totally agree with your second paragraph.

I don’t know enough about macroeconomics in the global sense to say about the first one though. My sense is that we’ve gotten much richer, more innovative, more technologically advanced, etc as a nation over the last half century. More so than basically anyone else. And no one is really catching up to us in those areas, with the possible exception of China. Is that wrong?

I agree that we seem to have destroyed a lot of institutions and safeguards that might precipitate our decline, but those things seem very subjective and qualitative. If we look at it quantitatively and holistically, we see pockets of decline all over, but the overall picture of the metrics doesn’t look like decline, does it? But I suppose that depends on how you weigh the pockets of decline against the pockets of advancement.

I guess maybe a better way to frame the question would be: what would you expect to see from the US economically over the last 50 years if we had not been in the decline you’re claiming?