In the 2018 Berkshire letter to shareholders Warren Buffett said the following,"Charlie and I happily acknowledge that much of Berkshire’s success has simply been a product of what I think should be called The American Tailwind. It is beyond arrogance for American businesses or individuals to boast that they have “done it alone.” The tidy rows of simple white crosses at Normandy should shame those who make such claims.
I am wondering if the things that made up that "American Tailwind" now turning into a headwind. Higher taxes, stupid regulations, goofy politicians, and the constant growth of the state are not what made an environment for Berkshire to prosper.

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