The US and other modern industrialized nations are headed for economic collapse. Political excesses created unwieldly and insolvent social welfare states in every modern democracy. The notion of providing for those who cannot or do not provide for themselves has limits. As Lady Margaret Thatcher expressed the problem: The trouble with Socialism is, sooner or [...]
Tag archives for Welfare States
Welfare States R.I.P.
This post appeared over two years ago, but remains relevant today. “The worst thing in the world next to anarchy is government.” Henry Ward Beecher Bloggers post what they claim to be the “scariest economic chart” or the ”chart of the century.” Indeed, many data sets are frightening, but none more so than the one to [...]
The Welfare States Are Sinking
Despite all the hoopla about recoveries and green shoots, the western welfare states are a mess and it shows in markets. Their stock markets are below where they were in January of 2000. And Japan is with them. We have a classic “chicken-egg” problem. Which came first debt or the welfare state? If you con’t [...]
The Trauma That Is Directly Ahead and Inevitable
A depressing ending to our economic crisis lies ahead. It is not a failure of economics but a failure of those economists who, like hired guns, sell out to political masters pandering to voters. Another Great Depression (Greater Depression) lies ahead and is, at this point, unavoidable. The implications of that are incomprehensible to most [...]
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