Don’t be so arrogant, Mr. President
Money Morning – Keith Fitz-Gerald – 7/22/2013
This is an interesting article – click to read the entire post – America’s leaders are doing many of the same things that lead to the eventual collapse of Rome.
America, like Rome, will cross the most dangerous lines once voters figure out that they can entitle themselves. You will go from a nation of makers to a nation of takers.
We learned the hard way as our treasury became a proxy for a handout. Our citizenship changed radically and so did our elections. Towards the end, our political process was not about who would build a better future for the Empire, but who would be least likely to take away the handouts.
Politicians who focus on surviving threats from each other lose sight of the nation they serve and their people.
One of our biggest challenges was the large rival factions operating outside the political structure to create controversy and misleading attacks on rivals. They were little more than privately funded corporations acting in the guise of public interest. Eventually, they split the people so effectively that everybody lost...any nobody won.
Our government became "at" the people instead of "for" the people; corruption became a way of life amongst our leaders.
This was particularly true when it came to stimulating the economy in an attempt to correct the progressively bad policies these actions created.
We repeatedly devalued our currencies swapping one for the other as values dropped. We printed money in the short term oblivious to the damage we were doing in the longer term.
The strongest years of our Empire were driven by the concept of a better future rather than merely by survival. Taxing our public enslaved them, creating what in the Middle Ages would come to be called serfdom.
When the cost of money is low, governments will waste it and businessmen will not invest.
READER COMMENT: None of your analogies to the Roman Empire apply to a real example. Ancient Rome didn't certify its currency with the full faith of its government. Neither did the Weimar Republic. Nor present day Greece. In contrast, the USA holds several notes for outstanding foreign country debts to the USA that we can call at nytime we need them. Rome was a slaveocracy, a corrupt one, and not even a democracy for Roman citizens if the true history be known. Your historical analogy may be way off base, however your concerns for this country's currency are based in reality. Technological innovation, as well as innovative investment strategies, seem to be the best remedies, based on our industrial history.
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