“Americans think we are stupid,” said a European diplomat at a dinner party in Washington. ”But we’re not stupid. We’re just working out the problems involved in forming what you might call ‘a more perfect union.’” “Well, you can unify all you want…it won’t make your debts go away,” we replied. We always try to [...] Has Capitalism Failed Us? originally appeared in the Daily Reckoning . The Daily Reckoning, published by Agora Financial provides over 400,000 global readers economic news, market analysis, and contrarian investment ideas.