Every proposed solution to the Ponzi scheme problems of the world tells us that politicians and everyone else must bear pain in the short run in order to avoid catastrophe in the long run. Yet there is no evidence anywhere in the West that politicians are willing to bear such pain, because there is no sign anywhere in the West that a majority of voters is willing to bear such pain as a result of whatever the politicians do. On the contrary, the reason why we are so far advanced into Ponzi scheme economics is because voters, once lured into the Ponzi scheme, are outraged against any politician who dares to tell them that the Ponzi scheme is a vast mirage which is going to lead to devastating results in their lives. Voters impose negative sanctions at the polls on any politician who goes public with any such an analysis. People who are deeply involved a Ponzi scheme are outraged by any messenger who brings them bad news about the economics of the Ponzi scheme. They shoot the messenger. We have already covered this.
quarta-feira, janeiro 09, 2013
Social Security, Ponzi Schemes, and Leprechaun Economics por Gary North: