The American Century is dead. Long live the next American Century.

The subtext of political debate these days is that the United States is in decline — a proposition often portrayed as self-evident. The economy lacks dynamism; unemployment near 8 percent remains at recession levels. The president and his Republican critics barely talk to each other; stalemate seems unending.

But what if America isn't in decline? A powerful rebuttal comes from an unlikely place: Wall Street.