We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
Americans tend to prefer to care more about the details of their personal lives than about national politics, but at some point they can feel kicked enough to wake up. At some point, people realize that they might not be too interested in Washington, but that Washington effects them more than they wish. Kick, kick, kick.
Ah yes, VDH qua Cassandra. I am sure our ruling masters don't believe a word of it, and why should they? It runs counter to The Narrative and things are going swimmingly. yes?
I have been reading these types of columns for years and the sky hasn't fallen. Like the feared global warming disaster, the prophecy is open ended.
Conventional wisdom says if thing can't go on as they are, they won't. If that's the case how do we end up? Will we go the way of Argentina? Venezuela? Soviet Union to Russia? Romania? or something altogether different?
Who knows? Your guess is as good as anyone's.
But for now all is well. The music is playing and the wealth transfer checks are being cashed.
Every empire falls and you can find similarities in each one's fall. There's nothing wrong at all in pointing to the generalities. Rome fell because of over expansion - arguably so did the Aztecs and the Greeks and the Persians. Rome fell because of exorbitant debt - arguably so did the Egyptians. Britain fell because of The United States ascendancy - Persia fell because of Greek ascendancy.
Perhaps the warning lies in the generalities. Complacency hides in the generalities.
While we focus on domestic politics, the world economy sends red-light danger warnings
By Thomas Lifson
The world’s economy is in deep trouble. Those jobs that everyone, led by Donald Trump, wants to bring home are evaporating overseas. The U.S. is far from the only nation to use government debt to try to keep its economy afloat. In fact, we’re following Japan in that path, which has been stagnating for two and half decades as its government throws borrowed money into its economy to keep total demand from crashing –
The problem with debt is that someday it has to be repaid, or else the system collapses.
Consider this from Zerohedge:
“We’re digging a great big hole that is likely to cave in on us before we manage to claw our way back out of it.”
“US nonfinancial debt rose 3.5 times faster than GDP last year. (Nonfinancial debt is the sum of household debt, business debt, federal debt, and state and local government debt.)”
“The Federal Reserve, the European Central Bank, the Bank of Japan, and the People’s Bank of China have been unable to gain traction with their monetary policies…. Excluding off balance sheet liabilities, at year-end the ratio of total public and private debt relative to GDP stood at 350%, 370%, 457% and 615%, for China, the United States, the Eurocurrency zone, and Japan, respectively…. The debt ratios of all four countries exceed the level of debt that harms economic growth. As an indication of this over-indebtedness, composite nominal GDP growth for these four countries remains subdued. The slowdown occurred in spite of numerous unprecedented monetary policy actions—quantitative easing, negative or near zero overnight rates, forward guidance and other untested techniques.”
If you don’t think another potential economic crisis, perhaps even bigger, is brewing, you are kidding yourself. The timing is uncertain, but all the signs are there.