Saturday, August 27, 2011

Why Democracies Will Always Go Bankrupt

User submitted - Article

Gonzalo Lira

I don’t find economics particularly intimidating, or even particularly challenging—it’s just finance’s snooty but poor (and slightly daft) older cousin. History’s surprisingly ignorant and blinkered accountant. Philosophy and Math’s lightly retarded, puritanically rigid, and altogether rather embarrassing spawn. Now, it’s all good and fine for me to rant about how useless economics is—but these aren’t empty complaints on my part: I can point to a single, specific, monumental failing of economics—a failure in the discipline which pretty much proves my point: The United States is going bankrupt—and economics cannot explain why.

My bet is, the 10% of GDP deficits will be even larger in the coming years. And they will not stop in 2013 or 2016—the only thing which will stop the ever-increasing deficits is national bankruptcy. The American democracy cannot prevent this bankruptcy. Bankruptcy is the inevitable, inexorable end. I hope I have proven why.



  2. republic altered. buy food...

  3. We were supposed to be a Republic. That lasted for about 20 years.

    Never a Democracy; rule by majority is not so great.

    Unfortunately, we are a Clandestine Empire ruled by Foreign Oligarches; specifically the banking elite families.


  4. What it proves to me - is that if this country nreally doea go down ( excuse me; but I ain't heard the fat lady sing yet) that people simply are incapable of self goverence. Which when you really really think about all that entails is really really pathetic.

  5. off with their headsAugust 27, 2011 at 8:42 PM

    Unfortunately, we are a Clandestine Empire ruled by Foreign Oligarches; specifically the banking elite families.

    When are we going to see off with their heads?

  6. Nationalism is not a right. It's just a feeling of belonging via indoctrination.

  7. The author proved nothing, the logic is wrong. Our constitution being altered and ignored led to most of our problems, expecting government to do something for us other than its real job did the rest. The author needs to understand that opinions of r and p are just that, opinions!

  8. "Our constitution" 10.24 itself was only a collection of "self evident"land claims and 18th century big land owners property rights opinions of the founding fathers and slaveowners on how an economy and class relations should logically work at that time with national independence .
    Without the old official monarchial rule

    They thought that they could finance "small"
    government from the greatest land sale of stolen land in history!
    Opinions and the "supreme being "in full agreement in drafting the document !
    Now we live in the era of corporate persons and patriot acts .semi-monarchial rules and wars under globalist "free Trade "
    The old opinions have changed along with the world.
    The old rag has long since been marvelously
    adapted and modified to suit the current needs and logic of the ruling elites after a bi-partizan financial coup despite being one of the oldest capitalist republican constitutions in the world.
    Congress has now even handed over democratic
    control of the economy and government financial control to a bi-partizan 12 man commitee of wise men autocrats.
    Whatever the old constitution might say.

    your opinion of your human rights and on the constitution and its logic today are just as relevent as those of the Indian nations on democracy and the constitutional rule of law to sell up the country then.

    18th century opinions.

  9. 6.26
    did not you watch the full soap opera ?

    Paulson was the fat lady dressed in a TARP as the Great Ponzi collapsed

    - The end of the debt ridden , bankrupt USA as we knew it-
    The back up choir included Bush Obama and McCain .
    The final act is the ongoing looting of the county by the bankster led elites.

  10. The point 5:25 is that the article is a weak argument but you missed that. Instead of focusing on the real problem the author created a false scenario with a mathematical premise, you missed that too. Any type of government can and has fallen for any number of reasons. Also you suggest by the tone of your message that I somehow believe that the natives of this land were rightly done wrong, that you ass has nothing to do with what I said as well as being incorrect.


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