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News and current affairs
Meanwhile, the Bush Administration will blame the sinking economy, bad luck, and unintentional miscalculations for the vanished surplus.
But so far in the third millennium, this skill - or simply run of luck - has deserted the US.
But something more than bad luck and self-fulfilling prophecies are at work.
This was due to sound economic policy in the US (starting with the Bush-Mitchell-Foley tax increase of 1990), as well as some extraordinarily good luck in America.
If global prosperity is to return, America's economic luck will have to be even better than it was in the 1990s.
The rest of the world economy would do well to play it safe and start making its own luck.
Amid these plans and predictions, a growing banking scandal has reminded Italians that, in politics, luck can sometimes make the difference.
More by luck than by wisdom, this catastrophic situation did not develop.
It is the self-made part of luck.
Rather, the rich owe their wealth solely to their own luck and effort.
Even without any portfolio shift, Americans shouldn't expect their recent luck to hold up in the future.
Natural talents should be respected for what they are: the occasionally awesome luck of the biological draw.
But this was not a matter of good luck.
Where dynamic industrial clusters locate is partly due to luck and accident.
This task requires time, patience, hard work, and luck.
This crisis was not caused by bad luck or some professional misunderstanding, but by character problems, especially in the United States and later Western Europe.
Policymakers in China seem to be unaware that many major cities have not had the luck to become financial centers.
Unable to keep inflation under control without causing a recession, the country has, since 2010, got stuck not because of bad luck, or any loss of entrepreneurial spirit in its private sector, but because of political failings.