Michael S. Rozeff
LRC Blog
Most Americans are dissatisfied with government, an astounding 81%! But the two parties and the establishment elite remain unresponsive. The government is buying off discontent with food stamps and unemployment benefits. It is hoping that more inflation will stimulate the economy for awhile. But all of this in the longer run simply reduces the country’s productivity and increases the pressure from below for change. A collision is in the making between the people and their rulers because the political outlets for change are being blocked by the two parties, whose nominees are offering more of the same.
What will happen? Most of the scenarios are ugly. If the establishment stays unresponsive, one major possibility is that the force that will batter the establishment (and Americans too) will be financial. In this scenario, the U.S. will go the way of Greece and Italy. The deficits and debts will eventually lead to a rejection of U.S. government debt and higher interest rates. That will force the government to retrench. This will lead to draconian powers coming out of Washington. There will be more inflation. Deep fractures will appear among Americans as people thrash around for solutions and new arrangements. A second ugly possibility is that the rulers start to scapegoat certain Americans and institute even more socialist/fascist policies. A third ugly possibility is that the establishment ramps up a major war. One of the better possibilities is that the establishment starts to lose some elections to more libertarian candidates and then starts to alter its policies so as to retain power. There are many more possible scenarios…but something big is in the cards.
