America Is Done
by Monty Perlin, Economic Noise
America is done. There are a number of reasons to make this claim. All ultimately result from government and self-interest politics trumping good policy. Nowhere is such a conflict more apparent than politics and economics.
Politics and economics don’t mix well, but putting politicians in charge of economics is a recipe for disaster. The reason for that is that short-term political fixes almost universally are bad economic decisions. Sadly, for almost a century, politicians have controlled economics and economic policy, at least proper policy, has been harmed for this entire time. Political motivations and not economic ones drive economic policy. After a hundred years this abuse (which continues to accelerate in a desperate attempt to continue the charade) has exhausted its ability to hide the problems. In a nutshell, that is why America is in its current conundrum and why America is done!
Here are three geniuses (at least considered so before they entered government) who, to various degrees, became integral contributors to the intractable (impossible!) problems America and other Welfare States now confront. They were part of the problem as advisers and enablers. Now, outside of government, they are geniuses once again.
Despite my negativity regarding their roles in enabling these problems to worsen, their analysis and discussion in this video is informative and correct. Sit down on the first floor with no sharp objects nearby and pour yourself a stiff drink before watching this video. If you conclude there is no way out, you understand the video.
The following video with Peter Schiff and Michael Maloney discuss these issues from a different perspective. Neither was a part of the problem. Schiff was one of the most outspoken predictors of where these policy had to lead. He was right. Perhaps he will be correct in terms of how he expects the future to play out from this point.
H/T Zerohedge.com for both videos.
When former architects and critics agree on the harm of policies, it isn’t too hard to conclude we are in a tough situation. Only those with current responsibility see it necessary to continue the charade.