spencer rifle
Grandmaster
Perhaps we can bring our ideas/predictions/angst/research/sources all into one place here.
Personally, I see this as one of the most likely big disasters we are currently facing, besides CLIMATE CHANGE!!!
After personal experience with people who are just bad at financial management, I see the negative results. But not nearly as often or as severe as would be helpful. Too many credit card companies are willing to write off bad debt, making everything more expensive for me. Bankruptcy? No problem! It used to be a major financial setback. Now it's jut a bump in the road.
But our gov only has us and the printing press and suckers who buy our debt. Such large debts always become unsustainable. History is littered with the corpses of governments killed by fiat currencies and bad fiscal policies.
"A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, (which is) always followed by a dictatorship." - Alexander Tyler, 1787, "The Fall of the Athenian Republic"
"I see that recent polls supposedly show that huge majorities of Americans don’t want any modifications to Medicare or Social Security. So what? It doesn’t matter what you 'want.' The country’s broke, and you can vote yourself unsustainable quantities of government lollipops all you like, but all you’re doing is ensuring that when, eventually, you’re obliged to reacquaint yourself with reality, the shock will be far more devastating and convulsive." - Mark Steyn, 2011
People with no skin in the game (they don't pay taxes - about half of our population) have no fear of the consequences.
"A government which robs Peter to pay Paul can always count on Paul's support." - George Bernard Shaw
Personally, I see this as one of the most likely big disasters we are currently facing, besides CLIMATE CHANGE!!!
After personal experience with people who are just bad at financial management, I see the negative results. But not nearly as often or as severe as would be helpful. Too many credit card companies are willing to write off bad debt, making everything more expensive for me. Bankruptcy? No problem! It used to be a major financial setback. Now it's jut a bump in the road.
But our gov only has us and the printing press and suckers who buy our debt. Such large debts always become unsustainable. History is littered with the corpses of governments killed by fiat currencies and bad fiscal policies.
"A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, (which is) always followed by a dictatorship." - Alexander Tyler, 1787, "The Fall of the Athenian Republic"
"I see that recent polls supposedly show that huge majorities of Americans don’t want any modifications to Medicare or Social Security. So what? It doesn’t matter what you 'want.' The country’s broke, and you can vote yourself unsustainable quantities of government lollipops all you like, but all you’re doing is ensuring that when, eventually, you’re obliged to reacquaint yourself with reality, the shock will be far more devastating and convulsive." - Mark Steyn, 2011
People with no skin in the game (they don't pay taxes - about half of our population) have no fear of the consequences.
"A government which robs Peter to pay Paul can always count on Paul's support." - George Bernard Shaw
