Andrew Bolt gathers up all sorts of depressing stuff beginning with this:
Alexis de Tocqueville knew what he was talking about:
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world’s greatest civilizations has been 200 years.” andrew bolt
de Tocqueville was right but it is going to take another few years for his view to really grind in.
When a person is broke, really broke, they have no money and no means of getting money. When a government, with a reserve currency is broke it has the happy option of printing more of the ready.
Until it doesn’t.
The hope of the Obamaists is that, despite regulations which will cost billions, the great sleeping giant of the American economy will awake and produce the sorts of gains which will kill the deficit and the need for the deficit.
The problem is that the sleeping giant is awake and sending capital and jobs to places which appreciate both. Meanwhile, the 47% are sucking on the government teat. That is frighteningly close to 50% and it does not seem to be getting any better.
Meanwhile, given what has happened and what is likely to happen, why would the 1% who create the jobs and the 20% who actually run the small businesses hire anyone. What is the point? To hire someone is to become enmeshed in the regulations, the healthcare, the entitlements.
For the next four years it will be nuts for the private sector, big or small, to take their cash and invest.
The real unemployment rate in America is just over 20%. That is awful. But it is going to get worse.
At some point, and it it not going to be very long from now, the real number is going to emerge from its ghettos and its mothers’ basements. At the same time, the inevitable inflation will begin to kill off the prudent.
Until there is a President who is willing to make hard decisions America will simply be spinning around the drain, losing power, economic dominance and, in time, its own nature as a state.
Sad, but pretty much inevitable.