trysail
Catch Me Who Can
- Joined
- Nov 8, 2005
- Posts
- 25,593
The entitled attitude of spoiled rotten Americans is exacting a heavy toll. The pigeons are coming home to roost as international markets are expressing their opinion of the future of the United States as reflected by the value of the dollar (or "peso" as some financiers now laughingly refer to it).
Unconstrained government spending and ruinous Federal Reserve policies are leading to runaway inflation (a 1926 dollar is now worth $0.085- that's right, eight and a half cents!) Producers of petroleum are losing patience with America's fiscal profligacy; if continued, our out-of-control spending will inevitably lead to the pricing of petroleum in Euros or Yen or Rubles. If that occurs, one cannot help but wonder how we are going to acquire the Euros, Yen, or Rubles to pay for the fuel that lights the dark and keeps us warm in the winter. Do you really believe the world is interested in purchasing our mass tort manufacturing ambulance chasers? Americans obviously believe that Nigeria, Iran, Venezuela, Russia and Saudi Arabia will be perfectly willing to accept home delivered pepperoni pizzas in exchange for petroleum.
Notwithstanding the pronouncements of pandering populist demogogues, it is, ultimately, impossible to legislate economics. It is as futile an effort as Xerxes' attempt to beat the Hellespont into submission. As surely as nature abhors a vacuum and water seeks the lowest level, economics will out.
- Americans clearly believe they enjoy some sort of god-given right to a perpetual supply of cheap gasoline.
- Americans believe they have a right to borrow money and no obligation to pay it back. This attitude has only been reinforced by the rush of demagogic politicians to allow deadbeats to retain possession of housing that consumers bought notwithstanding the fact that they couldn't afford it in the first place.
- Americans possess a delusional belief that they have a right to free health care.
One can't help but wonder if Americans still possess the "virtue to be self-governing." While that question is open to debate, evidence of their lack of self-discipline is becoming overwhelming.
"Ask not what you can do for your country, ask what your country can do for you."