Former BB&T CEO John Allison’s warning today that it is a “mathematical certainty” that the U.S. goes bankrupt in 20-25 years if we don’t have “fundamental philosophical change” brought to mind this dialogue from the movie Titanic, in which naval architect Thomas Andrews tells Capt. Edward J. Smith and White Star Line managing director Bruce Ismay that the ship will sink:
Thomas Andrews: From this moment, no matter what we do, Titanic will founder.
Bruce Ismay: [incredulously] But this ship can’t sink!
Thomas Andrews: She’s made of iron, sir! I assure you, she can… and she will. It is a mathematical certainty.
The difference here is that we are not yet at that point of no return. As Allison says, there is still time to change direction. The iceberg is yet avoidable.
