At The Cobden Centre, Detlev Schlichter explains that,
The biggest threat to your property and to your individual liberty does not come from markets and not even from the bankers. It comes from politics.
I feel sure he is right. We’ve had decades of excessive political promises paid for by high taxes on people of ordinary incomes, deficit spending, national debt and currency debasement. That has inevitably caused a financial, economic and social crisis.
And yet still it seems politicians and officials across the western world believe they can manage the situation by increasing the money supply: does anyone believe “monetary activism” will ever mean anything else?
There’s no kindness in politicians’ unfunded promises. The truth is that the economy — society — cannot be “managed” and that the laws of social cooperation are as iron hard as gravity. Prosperity depends on producing more than is consumed, saving the surplus and investing in further capital goods. Politicians are needed who are prepared to face the world as it is and who reject cruel fictions about the efficacy of state power. It is up to the public to elect them.
Printing money is the last resort of desperate governments when all other policies have failed — George Osborne’s words in 2009. Yet the trajectory of public policy across Europe is plain. Detlev appears to be right: politicians are now the greatest threat to the public they are trying to serve. I thoroughly recommend his article.
Tags: debt, Deficit spending, Democracy, economics, Money, Quantitative Easing
Yep. And the reason for that treat goes back to the secret government debts that aren’t declared. The Bernie Maddoff debts.
The state faced with massive defaults will hit out at its citizens. So when people discover that politicians have take their pension contributions and wasted them, and then those same politicians decide to go after citizens to keep their ponzi going, its dire. See Greece
It is up to the public to elect them.
The problem is that politicians will lie to get elected, and then we’re screwed.
1. Not implementing manifestos.
2. Lying about manifestos – eg. no tax rises but you can have more spending
3. Implementing things not in manifestos.
Just some examples of why electing a representative is just electing a dictator.
The flip side is that if you have had no control, no say on an issue, you aren’t responsible.
So my prediction is that there will be war in Europe. Not between states but civil war where the state goes after it citizens.
I almost thought that you wern’t going to mention unfunded pension liabilities, but alas, there it is in paragraph two.