American conservatives have seized on this reversal of fortune: Arthur Laffer, a Reaganite economist, hails the Texan model over the Gipper's now hopelessly leftish home.
Young people today are staring at a future in which they will be less well off than their elders, a reversal of fortune that should send a shudder through everyone.
The financial sector over the last two bull markets did not suffer through quite as large a reversal as information technology did two decades ago, but its reversal of fortunes as still noteworthy.
The investments in the Western banks mark a stunning reversal of fortunes that few would have predicted as little as a year ago.
