Paulson states that the economic fundamentals going forward are solid. Paulson has an agenda, and I can’t figure it out. But the fundamentals are not at all solid; in fact, they are unprecedented in modern history:
1. Two-thirds of government money is spent on social programs and we now live in a one-man, one-vote democracy. Our system of government will surely bankrupt itself within a generation.
2. Workplace rules and regulations have pushed our manufacturing base overseas. High tax individuals are already starting to follow factories.
3. Money will continue to be printed to keep the banks afloat. This will cause commodity inflation, specifically mentioning food and fuel.
The thing to watch is the US’ credit rating. Moody’s has already given the government a warning. When the first downgrade eventually comes, things will accelerate.
Property rights will be secure in the aftermath of any collapse. The power structure is intact; the dependent classes are fractured along ethnocentric lines. The middle class could get a lot smaller.
Wednesday, January 2, 2008
Back in the day all English Freemen were entitled to vote. But Henry VI thought that this diluted political power to too great an extent for stability, so voting rights were restricted to freeholders of land with a worth of over 40 shillings in 1429. This system worked for over 400 years. It was cruel for many but Britain grew to dominate the world.
In 1832, things started to change. First, the 40 shilling level was reduced. Then people with liens on their land were given the green light. The Scottish electorate jumped 1300%. Further steps were taken in 1842 and 1867, and the British electorate exceeded 5 million. Then came the women.
In 1928 the electorate more than doubled to 22 million and the natural compassion of the female gender led to a much more humane society, offering social benefits to one and all. The quality of life differential between England and the third world, coupled with lax restrictions on immigration, attracted immigrants from around the world, a political power base that voted consistently for more wealth redistribution through higher taxes.
By 2007, 200,000 taxpaying British professionals were leaving each year, being replaced with 500,000 new immigrants. In 2011, the British government lost its worldwide credit rating, the social safety net collapsed, order dissolved, and a bloody wave of violence swept over Britain.
Following mass interments and deportation of Muslims and other recent immigrants not meeting work and independence requirements, the 'Henry VI Voting Rights Act of 2015' was passed by the interim military tribunal and signed into law by General Smith.
And now for something completely different: Happy New Year.
Posted by Bill at 8:26 PM