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Austerity Riots Coming to a City Near You

November 15, 2012 08:13

After two generations of entitlement indoctrination, the socialist welfare state is collapsing under its own unaffordable weight. It is the inevitable result of socialism. Too many Americans still vote a party because of a generation of propaganda molding their beliefs. Too many Americans are still willing to sell their vote and their freedom for a hand out in the form of a tax credit, healthcare, pension bailout, school loan, farm subsidy or a thousand other imagined benefits from a morally and fiscally bankrupt government as long as it is paid for by ‘someone else’.

The sad truth is that the ‘someone else’ is their own children and grandchildren. The resulting dependency on government is indeed ‘fundamentally transforming’ America. The problem is that what we are being transformed into is a welfare state model that has already been shown to fail in many European countries.

The math just does not work. The truth is government-run, taxpayer-funded, anti-poverty programs do not work. Printing the money creates inflation which is just a sneaky way to steal your money without raising taxes.

In 1966 Alan Greenspan who became Chairman of the Federal Reserve form 1987 through 2006 said this:

“Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes. A substantial part of the confiscation is effected by taxation. But the welfare statists were quick to recognize that if they wished to retain political power, the amount of taxation had to be limited and they had to resort to programs of massive deficit spending, i.e., they had to borrow money, by issuing government bonds, to finance welfare expenditures on a large scale.”

And borrow they did. And they are still borrowing with no conceivable way to pay it back. When our debtors wake up to that fact they will, at a minimum, demand higher and higher interest rates on the debt. More likely they will stop lending us money. No more rubber checks.

Alan Greenspan said “Deficit spending is simply a scheme for the confiscation of wealth.” Obama said he just wanted “to spread the wealth around”. To have it to spread around, the government must first confiscate it in the form of deficit (borrowed) spending leaving it to future generations to figure out how to pay it back.

We have committed national suicide. America might be the last one to see riots like these but they are inevitable with the lunatics in charge of the asylum.