Scottish scholar Alexander Frasier Tytler is credited with having said the following in the 1800s: "A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. . . ." The same would apply to a republic. He said this before the UK experienced its collapse due to WWII. It remains a republic although, obviously, the sun now sets on the British empire. (I recall meeting a Brit at a carnival in Cleveland in the late 1990s. He bragged about how when he was a child, the sun never set on the British empire.) This won't end well, and a lot of good people will be significantly hurt. I hope the Fed recognizes it's too far gone for money printing to be part of the solution. We'll need to have a reorganization. It will cause markets to go haywire. At that time, all entitlements should be reformed/reduced and the tax system changed to be simpler and less subject to evasion and error.
From Al Green to Alex Padilla
Why are elected officials performative-cosplaying to protect criminals? Why don’t Democrats stand up for Americans for once? https://torrancestephensphd.substack.com/p/from-al-green-to-alex-padilla
Thank you! This makes so much sense. So what do I say to my 31 year old son who says neither political party is worthy of his support?
Scottish scholar Alexander Frasier Tytler is credited with having said the following in the 1800s: "A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. . . ." The same would apply to a republic. He said this before the UK experienced its collapse due to WWII. It remains a republic although, obviously, the sun now sets on the British empire. (I recall meeting a Brit at a carnival in Cleveland in the late 1990s. He bragged about how when he was a child, the sun never set on the British empire.) This won't end well, and a lot of good people will be significantly hurt. I hope the Fed recognizes it's too far gone for money printing to be part of the solution. We'll need to have a reorganization. It will cause markets to go haywire. At that time, all entitlements should be reformed/reduced and the tax system changed to be simpler and less subject to evasion and error.