Government decisions and actions have assured an economic collapse that will result in another depression. Federal debts and promises are too large to be honored, a conclusion based not on economics but on simple arithmetic.
The government collapse will likely trigger the economic collapse, although the order could be reversed. Arguably, we are already in a depression which has been disguised by juicing GDP via excessive government spending. This spending has been funded increased government debt in magnitudes never seen before. To put matters into perspective, by the end of President Obama’s first four years, he will have added more to the federal debt than all 43 Presidents who preceded him.
The economic collapse, as a result of this borrowing and stimulus, will be terrifying and worse than it needed be. Whether it is preceded by hyperinflation or goes directly into a deflationary collapse is moot and immaterial regarding an ultimate depression. Resulting conditions will be worse than those experienced during the Great Depression of the 1930s.
As frightening as the economic event will be, it will be superceded by the political damage. Given the state of our economy and the state of our government, there is a high probability that we lose our form of government. The confluence of the horrific economic events coupled with what H. L. Mencken foresaw long ago brings the very survival of freedom and liberty into question:
As democracy is perfected, the office of President represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart’s desire at last, and the White House will be occupied by a downright moron.
Mencken’s “great and glorious day” is upon us. We have found our ”moron,” not that he is the first or only one. His intent “to transform America” suggests that his actions will not be limited to methods considered appropriate by his predecessors.
In a recent article on American Thinker Steve McCann expressed his concerns that Obama is following in the footsteps of Twentieth Century despots:
… Barack Obama is the most corrupt, dictatorial, and ideologically driven president in American history? That his entire being and psyche are devoted to transforming the country not only into a socialist utopia, but into a nation permanently governed by a radical oligarchy?
Other observers share McCann’s opinion, and many do so in less complimentary terms.
What Made This Country Great?
America became great not because it consisted of great men (even though there were many). Our system of governance encouraged laissez-faire capitalism and the freedom and opportunity that allowed ordinary men to do great things. Greatness did not come from electing great leaders. They may have helped, but they were neither necessary nor sufficient for the country to succeed.
The Founding Fathers provide a framework and an “operating system” which allowed the country to prosper. These hearty men were wise, courageous and noble. They understood the nature of man and the danger of power. They established a system designed to protect people from both. They designed a form of governance to accommodate imperfect and less than honorable men. Their primary focus was on limiting the role and power of the federal government.
Under such an arrangement the energy and creativity of people pursuing their own self-interests quickly transformed America into a dynamo unlike anything seen before. In less than a century, the US grew from a backwoods society to one of the most powerful, prosperous nations in the world. Along the way the country elected its share of idiots and morons, perhaps not in a clinical sense but in terms of the gap between their abilities and the abilities required for their offices. The limited role of government restricted the damage that could be imposed on the citizenry. Imperfect men were constrained by a nearly perfect Constitution.
Sadly, the citizenry is no longer protected by