The United States continues to lose its standard of living primarily by debasing its currency. Excessive taxation, excessive fiscal spending in Congress coupled with the intrinsic dangers of fiat (paper) money divorced from any extrinsic standard (read gold) provide the fodder for the fast demise of any civilization.
Our current liberal model of tax and spend provides fertile ground for intractable political problems that paralyze legislative assemblies. Let’s hope our Executive maintains a grasp of fortitude as we may soon be required to back a winning horse as Israel confronts a tyrannic nuclear theocracy.
For those who believe that contemporary society is sophisticated enough to unravel any precipitous challenge, please fortify your courage with the following historical insights.
Nazi Germany was born out of a bankrupt Weimar Republic.
The Soviet Gulag emerged out of Stalinist economic incentives.
A feckless population and unpaid army enabled the rise of Mao.
Economic competition over natural resources coupled with the criminalization of tribal differences engendered Rawanda.
The Congo Civil War began by a power vacuum that contrasted vast natural resources to intellectually bankrupt government.
A resource starved Japan made Pearl Harbor!