Thanks to the bipartisan efforts of Republicans, Democrats, and the voting public, the weakening and inevitable implosion of the American economy and monetary system is assured.
The ruling parties may bicker about tax rates, Big Bird, and other petty minutia so that we may be tricked into thinking there is any sizable difference between the two, but both are completely aloof to the economic reality that no government can spend beyond its means indefinitely. Currently, the two biggest contributors to U.S. debt and the impending dollar crisis are entitlements (Medicaid, Social Security, welfare, etc.) and the bloated military. It is no coincidence that these two types of government spending are the pillars of the two parties. Neoconservative Republicans would rather go broke than close down any of the U.S.’s 662 overseas bases, while Democrats are content on keeping their constituents in the ghetto by subsidizing it. Government spending has swelled in every conceivable area for decades on end, and the debt created by Washington has long since eclipsed the nation’s total GDP. Major programs are insolvent, and neither the most confiscatory taxation plan nor the most tremendous growth could satisfy a now unpayable debt.
In a last ditch effort to keep the status quo afloat, the government, through its private monopoly, the Federal Reserve, has taken to printing trillions of dollars whose value is the same as the empty promises of the political bodies which create them. Ben Bernanke’s “quantitative easing” (inflation) is now in its fourth, indefinite run. QE4ever has been the government’s response to the failed QE’s 1-3, and is a policy implemented most commonly by failed banana republics. Today, seas of American monopoly money flood the world, and those worthless scraps of paper can no longer buy back the wealth which has been stolen from the citizens.
Again, do not expect any changes in government regarding positions on uncontrolled money printing, or the creation of unsustainable financial bubbles which benefit corporations and politicians while impoverishing the working class. Paul Krugman, a recent celebrity and economist whose supposed genius is touted mainly by supporters Obama’s policies, urged former Fed chairman, Alan Greenspan, to help expand the housing bubble which, in 2008, served as a catalyst for the current Recession. Meanwhile, libertarian economists like Rep. Ron Paul (R-Texas), who had predicted the financial meltdown years in advance with precise explanation, have been kept on the fringe by government and media outlets.
The unwillingness and inability of government to cut spending, live within its means, or listen to reason will ultimately spell its end. In a recent interview, Ron Paul stated that the debate is no longer over how to avoid the fiscal cliff, but merely “how are we going to land?” And should current policies prevail, with no major shift to a smaller government which emphasizes economic liberty and private savings, that landing will be quite hard – like avoiding the pillow of the private sphere, and landing face-first onto a government road.