Kevin Phillips is right

From tomorow's WaPo:

Because the United States is beginning to run out of its own oil sources, a military solution to an energy crisis is hardly lunacy. Neither Caesar nor Napoleon would have flinched. What Caesar and Napoleon did not face, but less able American presidents do, is that bungled overseas military embroilments could also boomerang economically. The United States, some $4 trillion in hock internationally, has become the world's leading debtor, increasingly nagged by worry that some nations will sell dollars in their reserves and switch their holdings to rival currencies. Washington prints bonds and dollar-green IOUs, which European and Asian bankers accumulate until for some reason they lose patience. This is the debt Achilles' heel, which stands alongside the oil Achilles' heel.

Unfortunately, more danger lurks in the responsiveness of the new GOP coalition to Christian evangelicals, fundamentalists and Pentecostals, who muster some 40 percent of the party electorate. Many millions believe that the Armageddon described in the Bible is coming soon. Chaos in the explosive Middle East, far from being a threat, actually heralds the second coming of Jesus Christ. Oil price spikes, murderous hurricanes, deadly tsunamis and melting polar ice caps lend further credence.

The potential interaction between the end-times electorate, inept pursuit of Persian Gulf oil, Washington's multiple deceptions and the financial crisis that could follow a substantial liquidation by foreign holders of U.S. bonds is the stuff of nightmares. To watch U.S. voters enable such policies -- the GOP coalition is unlikely to turn back -- is depressing to someone who spent many years researching, watching and cheering those grass roots...

When religion was trod upon in the 1960s and thereafter by secular advocates determined to push Christianity out of the public square, the move unleashed an evangelical, fundamentalist and Pentecostal counterreformation, with strong theocratic pressures becoming visible in the Republican national coalition and its leadership.

Besides providing critical support for invading Iraq -- widely anathematized by preachers as a second Babylon -- the Republican coalition has also seeded half a dozen controversies in the realm of science. These include Bible-based disbelief in Darwinian theories of evolution, dismissal of global warming, disagreement with geological explanations of fossil-fuel depletion, religious rejection of global population planning, derogation of women's rights and opposition to stem cell research. This suggests that U.S. society and politics may again be heading for a defining controversy such as the Scopes trial of 1925. That embarrassment chastened fundamentalism for a generation, but the outcome of the eventual 21st century test is hardly assured.

These developments have warped the Republican Party and its electoral coalition, muted Democratic voices and become a gathering threat to America's future. No leading world power in modern memory has become a captive of the sort of biblical inerrancy that dismisses modern knowledge and science. The last parallel was in the early 17th century, when the papacy, with the agreement of inquisitional Spain, disciplined the astronomer Galileo for saying that the sun, not the Earth, was the center of our solar system.

Conservative true believers will scoff at such concerns. The United States is a unique and chosen nation, they say; what did or did not happen to Rome, imperial Spain, the Dutch Republic and Britain is irrelevant. The catch here, alas, is that these nations also thought they were unique and that God was on their side. The revelation that He apparently was not added a further debilitating note to the late stages of each national decline.

The idea that nations might think "God is on our side" is one of the most reliable indicators of national hubris doomed to failre; there has not been in history a single instance of where such a nation cultivated this idea that it did not decline in power; whether it's the empire of Japan, imperial China, Rome, the Papal States, the Caliphate, or the Holy Roman Empire.

You'd think people would learn from history but they don't, and so the smart money is to short the United States while Republicans are in power.