Andy Schectman returns to the Friday Night Economic Review. First we discuss the biometric ID program recently rolled out in Vietnam and reports that 86 million “non-compliant” bank accounts were shut down. We talk plainly about what that means — who gains power, who loses freedom, and how ID systems plus payment rails can be used to enforce compliance. Vietnam is a blue print for what will be rolled out everywhere. Then we step back into the long view with Strauss & Howe’s Fourth Turning — the idea that nations cycle through seasons and we’re now in the last stage marked by decadence and decay.