The dollar will lose its reserve currency status; Americans will see a decrease in their standard of living…due to Hubris.

In 1995, Motorola introduced the world’s then-smallest cell phone. It was a sleek clamshell design. It beat the pants off the competition. It was called, “StarTAC.” Leading up to this cool unveiling, Motorola had 50% of the global cell phone market. The only problem with StarTAC…no one wanted it. The newly-designed phone used analog technology just when the market turned to digital. According to Roger O. Crockett, who closely covered the company for Business Week, one of Motorola’s senior leaders dismissed the digital threat: “Forty-three million analog customers can’t be wrong.”[1] In his book, [How The Mighty Fall], Jim...

Read More