Via The Daily Bell
The leviathan created by the modern welfare state is one of the gravest threats facing the American republican system. Dangers levied by the continued use of the government’s dole come both fiscally and socially. Fixes being floated from Congress to community organizations still lack a cohesive focus on reform in the mainstream public discourse.
Authored by Charles Hugh Smith via OfTwoMinds blog,
The "fixes" to the stagnation of postwar Capitalism in the 1970s were financialization, globalism, and the sustained expansion of debt--all have run out of steam.
Via Global Macro Monitor,
The last words my father spoke to me before he died in 1996 was, [“Gregor], somebody is going to have to do something to help the poor.”
Fast forward to 2017. Never has the wealth gap in America been so wide. This creates the initial conditions for a very uncertain and potentially unstable and explosive political and economic future.
As we have detailed numerous times, student protesters have effectively been in control of Evergreen State University for about a month now, forcing the school to hold its commencement ceremonies at an alternative venue 40 miles from campus. The protests – and the school administration’s decision to acquiesce to the students instead of trying to hold them accountable for their actions – have prompted some in the Washington State legislature to try and pull state funding from the school.
Via The Daily Bell
What if everyone declared bankruptcy, would that solve all financial woes? Or rather, would it be the ultimate debt bubble burst? Bankruptcy is a “solution” that would become disastrous if everyone were to use it. So can it truly be considered a solution at all? It just shifts the financial burden to someone else.