"As any long-time reader of this column knows, we routinely draw from historical lessons to highlight that this time is not different."
Throughout the 18th century, for example, France was the greatest superpower in Europe, if not the world."[T]here are no safeguards in human nature. We're wired to overreach. Look at history, all the countries that have ever ruled the world - Portugal, with its big, massive navy... All they've got now are salt cods and cheap condoms... And Brits? Now they're just sitting in their dank little island, fussing over their suits." - Limitless (2011)
But they became complacent, believing that they had some sort of ‘divine right’ to reign supreme, and that they could be as fiscally irresponsible as they liked.
The French government spent money like drunken sailors; they had substantial welfare programs, free hospitals, and grand monuments.
They held vast territories overseas, engaged in constant warfare, and even had their own intrusive intelligence service that spied on King and subject alike.
Of course, they couldn’t pay for any of this.
French budget deficits were out of control, and they resorted to going heavily into debt and rapidly debasing their currency.
Stop me when this sounds familiar. READ MORE
7 comments:
I don't disagree with a lot of what the author said, but I think that the Plan B Simon Black mentions involves sending him money.
It's pretty simple, really.
When affluence and abundance becomes the expected, societies begin to live off their principal.
Nobody wants to do productive work. Everybody becomes a rent seeker.
It's human nature.
Interesting, when I worked at NASA, we launched humans into space. Now, NASA does study on the collapse of advanced civilizations.
Now, NASA does study on the collapse of advanced civilizations.
You could say they see the hand writing on the wall.
"Cycle of Democracy
"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover they can vote themselves largess from the public treasury.
"From that moment on, the majority always votes for the candidates promising them the most benefits from the public treasury, with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.
"The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence:
"From bondage to spiritual faith;
from spiritual faith to great courage;
from courage to liberty;
from liberty to abundance;
from abundance to selfishness;
from selfishness to apathy;
from apathy to dependence;
from dependency back again into bondage."
Dr. Alexander Tytler, a Scot professor, wrote a scholarly tome, from which this concept comes, called "The Athenian Republic" which was published shortly before the thirteen American colonies gained independence from Britain. "Google" him to learn more."
http://www.wrisley.com/cycle.htm
Stop stop stop!
Enjoy the decline. We have an opportunity to change directions. Not if the queen corruptocrat is elected.
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