Wolcott has a post about how rising anti-Americanism will have non-trivial economic consequences. I have no doubt that this true. I lived in Europe at the tail end of the Clinton administration and at that time America really was "cool." Sure, American pop culture and brands have long been embraced by Europeans, but somewhat sneeringly. When I was there I was surprised at the degree to which the sneer had been replaced by genuine admiration. Well, no more.
And, given the kafkaesque nightmare that our immigration system has become (it was always crazy, but agents were at least allowed some flexibility which kept the system together), I have no doubt that we're no longer a particularly attractive destination for "high quality" (income/education) immigrants.
