In Greek mythology, the prophetess Cassandra was doomed both to tell the truth and to be ignored. Our modern version is a bankrupt Greece that we seem to discount.
News accounts abound now of impoverished Athens residents scrounging pharmacies for scarce aspirin -- as Greece is squeezed to make interest payments to the supposedly euro-pinching German banks.
Such accounts may be exaggerations, but they should warn us that yearly progress is never assured. Instead, history offers plenty of examples of life becoming far worse than it had been centuries earlier. The biographer Plutarch, writing 500 years after the glories of classical Greece, lamented that in his time weeds grew amid the empty colonnades of the once-impressive Greek city-states. In America, most would prefer to live in the Detroit of 1941 than the Detroit of 2011. The quality of today's air travel has regressed to the climate of yesterday's bus service.
In 2000, Greeks apparently assumed that they had struck it rich with their newfound money-laden European Union lenders -- even though they certainly had not earned their new riches through increased productivity, the discovery of more natural resources, or greater collective investment and savings.
The brief Euro mirage has vanished. Life in Athens is zooming backward to the pre-EU days of the 1970s. Then, most imported goods were too expensive to buy, medical care was often premodern, and the city resembled more a Turkish Istanbul than a European Munich.
The United States should pay heed to the modern Greek Cassandra, since our own rendezvous with reality is rapidly approaching. The costs of servicing a growing national debt of more than $15 trillion are starting to squeeze out other budget expenditures. Americans are no longer affluent enough to borrow hundreds of billions of dollars to import oil, while we snub our noses at vast new oil and gas finds beneath our own soil and seas.
In my state, Californians for 40 years have hiked taxes; grown their government; vastly expanded entitlements; put farmland, timberland and oil and gas lands off limits; and opened their borders to millions of illegal aliens. They apparently assumed that they had inherited so much wealth from prior generations and that their state was so naturally rich, that a continually better life was their natural birthright.