Spare me the mantra that the “fundamentals” are sound. Credit is the ultimate fundamental.

The American elite ... is almost beyond redemption. Moral relativism has set in so deeply that the gilded classes have become incapable of discerning right from wrong. Everything can be explained away, especially by journalists. Life is one great moral mush -- sophistry washed down with Chardonnay.

To the American people I bid a fond farewell. Guard your liberties. It is the trust of each generation to pass a free republic to the next. And if I know you right, you will rouse yourself from slumber to ensure exactly that.