Article Image

IPFS News Link • Political Parties

The Next "Advance Auction on Stolen Goods"

• https://www.lewrockwell.com, By Doug Casey

I find it distasteful discussing current political figures. But since somebody new is going to be president come November, it makes sense to figure out who that might be, in order to insulate yourself as much as possible from the damage they'll do.

Let me start by saying that this is not just the most entertaining election I've ever witnessed. But after the 1860 election, which Lincoln won with 40% of the popular vote (the remainder split between Stephen Douglas and two other candidates), I suspect it will also be the most divisive, hostile, and critical to the future of the country. Ever.

Why do I say that? Because the U.S. hasn't been this unstable since the unpleasantness of 1861–1865.

The figures show that the average American's standard of living has been dropping since about 1971. This is manifestly true relative to the rest of the world. But it's also true in absolute terms, especially after you back out extraneous factors. For instance, today's families usually need two breadwinners just to make ends meet. Huge amounts of debt have also helped disguise the decay. The situation is becoming critical with real unemployment closer to 20% than the official 5%. Interest rates are being held at zero to maintain unsupportable levels of debt.