Déjà Vu — The 1930s are coming back.

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What happens after a globe-shaking financial crisis? We are stumbling through one right now, and we all want to know what we are in for next. Fortunately—and unfortunately—this situation is precedented.

Early last century, the globe’s First World War extinguished lives, torched economies and left Europe smoldering with grievances. Afterward, the world was rocked by the most violent financial earthquake in modern times—the Great Depression.

The nations were churning: brutal dictators were rising, anti-Semitism was becoming mainstream, civil war erupted in Spain, Japan invaded Manchuria, Italy invaded Ethiopia. But instead of facing the challenges, Britain and America turned increasingly inward, focusing on their own wounded economies, slashing their militaries and pointedly ignoring the world outside.

Decades after World War III, will historians be writing something similar? The nations were churning. Radical dictators were rising, anti-Semitism was becoming mainstream, Germany conquered the Balkans, Russia invaded Georgia, civil wars erupted in the Middle East, China built a military powerhouse, a new strongman arose in Russia, a crafty emperor arose in Europe. But instead of facing the challenges, Britain and America turned increasingly inward, focusing on their wounded economies, slashing their militaries and pointedly ignoring the world outside.

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