Writes DiLorenzo:
The two worst scourges of humanity in the twentieth century were socialism and fascism. Together, they wrecked much of the world economy because of their shared "fatal conceit" (F.A. Hayek’s term) that government central planners were superior to private property and free markets. Fascist and socialist governments (not that there’s much difference between them) murdered over 100 million of their own citizens, as the sociologist R.J. Rummel has documented (See his book, Death by Government), and instigated wars that caused the deaths of millions more.When I write that we are headed for serious problems in dangerous uncharted waters, I am not kidding.
Incredibly, the two-party duopoly that has long ruled America has adopted both fascism and socialism as the defining characteristics of our economic system. Call it Fascialism. It is a recipe for national economic suicide...Obama promises the worst of all economic worlds: A vast expansion of the welfare state form of socialism, as defined by Hayek, along with a heavy dose of old-fashioned, early twentieth-century, Stalinist socialism with the nationalization of banks, automobile companies, the health care industries, and whatever else he can get away with. The Mussolini-like cult of personality that has developed around him will facilitate this disastrous path to national economic suicide.
We are way beyond the days of debate between the left and the right about whether a Welfare Queen should get food stamps in addition to her welfare checks. We are talking about serious command and control of the economy. DiLorenzo discusses the auto industry and the financial sector, but even in the last 24 hours there is more evidence that government control and expansion is going way beyond that.
I can't over stress the point that we are all going to face a serious decline in our standard of living. These are not tiny limited socialist moves that are going on, they are going to have major impact. We are all going to feel it. It will start with minor irritants and more forms to fill out, and then it will move on to noticing that for some reason you can't get this or that anymore, and it will move on to fear about what you are doing and how it will be viewed by the Fascialists.
Bob,
ReplyDeleteYour observation that this goes beyond the typical politics of Democrat and Republican in exactly correct. That being the case, the political response, when and if it comes, may be something completely off the radar screen (doesn't make investment planning any easier). The Progressive Era, which I would date from around 1914, is looking like its in its final innings. But what lies over the rainbow?
Are you recommending places for Americans to expatriate to, if things go the way you see them? Or is this outside your area of expertise? For instance, the up and coming young man out of college, who wants to live in a productive environment - where to? Singapore? What about the retiree looking to preserve his hard earned wealth? Or is the U.S. pretty much the last hope?
I can't be the only person who has asked you this.
@ Nick Kaster
ReplyDeleteA very good question.
I have not mentioned it at this blog, but clearly a move might make the most sense somewhere down the road.
It will be up to each individual to determine what place is most attractive based on what is important to him.
We are not there yet and there is time to plan, but everyone should start thinking about such options. It is better to be two years too early than one day too late.
For example, I often wondered why more Jews didn't leave Germany when it seemed things were getting bad. The answer came to me thorugh the movie, The Pianist. Most Jews, like most people, were just one step behind. When thay should have been leaving, they worried about where to hide their money. Then they worried about where to live, when they should have left. On and on. I recommend the movie highly.In fact, in this day and age, I don't hesitate to call it a must see.
Of course now that you must have a valid passport to re-enter the US from anywhere abroad, it is only a matter of time before exit restrictions will be imposed. And with all of the work fincen and it's siblings in foreign countries have done to limit transfers of wealth to other countries, we may be trapped economically.
ReplyDeleteNick and Wenzel,
ReplyDeleteI've been thinking about the same thing a lot lately, have discussed it with my father (who wanted to move when Clinton became pres but ultimately backed down... now wishing he hadn't) and have been in somewhat intense debates with a friend and his girlfriend.
We've been trying to figure out if it's too late to do the "Howard Rourke" route (work for change and prosperity within the current system), or if things are too far-gone and it's time to pull a "John Galt" (withdraw ourselves and our productive ability from the system).
My inclination is that the system is too far gone and it's time to think about withdrawing. But as Wenzel said, it's tough to know, just yet, where the safe place to go will be. All these countries and governments are still in "boil" mode, vs simmering with whatever kind of intervenionist equilibrium they might finally reach when fully-cooked. With time, it might be more clear where people can actually, safely escape to. But it requires planning and thinking now because you need to know how to get yourself and your wealth out of the country and into another, permanently and legally.
You must also be willing to consider the fact that, most likely anywhere you might run to will not be English-speaking and you won't walk in there a wealthy, first-class citizen, so you have to be psychologically prepared for hardwork, struggle, poor or indifferent treatment, walls to climb over and hoops to jump over just to hold a menial, survival-type job until you can learn the language and try to move up to a higher-skilled position. In other words, life as an immigrant, which won't be anything like what your life is like now.
I agree Sean. In a couple of years if you want to leave the US you will have to figure out how to smuggle yourself out.
ReplyDelete