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It is incredible how corporate media, politicians, academia, gurus, experts, and so-called economists are keeping these myths alive. A government that can not do anything right is somehow a good regulator of utilities, speech, firearms, privacy, sex, and drugs. Can people not see how the government keeps destroying everything it touches? It is usually done for safety, security, efficiency, justice, equality, and economy. However, history tells us that no one can mess these things up more than the government. We now have over a century of experimentation with government monopoly on everything, aka Socialism, and we seem to have learned nothing from these experiments that failed every single time.
It has been over two centuries since so-called thinkers and philosophers started coming up with these weird ideas that handed everything over to a gang of power-hungry creeps, and all the problems of the world would get fixed. People had lots of issues with accepting these ideas. But elite power brokers kept pushing these. Finally, starting in 1917, the elite dreams began to be realized. Soviet Union, China, India, DPRK, Cambodia, and Venezuela made these dreams a reality. The gurus, political scientists, and most economists were going bananas. Corporate media bombarded the masses with the wildest predictions. “Soviet Union will soon surpass the USA. ” “This is the end of Capitalism.” “Everyone will be equal soon.” “Injustice will be the story of the past.” “Everyone will have everything just by rubbing the lamp.” “Everyone will be happy like never before.”
As late as 1970, gurus said the USSR was almost there. The US leadership is about to become a past narrative. Then, the Soviet Union fell bankrupt. China and India ditched Socialism and adopted market reforms, ending decades of worsening poverty and starting to grow like crazy. Cambodia also ditched Socialism. DPRK and Venezuela are still struggling with ever-worsening economies because people cannot find a way out of tyranny. The Western countries that did not take the path of radical revolution because public support was lacking went on the so-called middle road of reforms and government interventionism. Though not as devastating, the results in those countries have also been dismal.
The most prominent example of disappointment is the United States. This was the first country in known history built from the bottom up, with literal Anarchy in most parts, and it did miracles. Within the blink of an eye, in two centuries, it became the world’s largest and richest economy. It created the most prominent and most prosperous middle class ever. It also dropped the poverty rates at the fastest pace ever. The other Western countries that adopted Capitalism in those two centuries also did great. Examples are Canada, Mexico, Britain, France, Germany, and Scandinavia: material well-being, technological advancement, and economic and financial growth. Standards of living and incomes in these countries were simply incredible.
Gradually, as always happened in history, the people in these leading economies started developing the psyche of spoiled rich kids. Governments rapidly adopted the policies of imperialism. Opportunistic intelligentsia took advantage of the situation. With the failures of Socialism, they realized that Marxism would never be accepted in the Western world as it is. It requires cloaking. So, they gave it deceptive, unnatural, unrealistic, cloaking. Cultural revolution, equality of outcomes, gender equality, racism, regulation of the economy, public funding of science, research, and education, all the never achievable goals became society’s goals.
The real purpose was not the well-being of people, though. It was the centralization of power and control in the hands of a small elite group, as intended by the original Marxist Socialism. The government started swelling more and more. Taxation and regulations became incredible. Americans who revolted against the few cents tax on tea are now paying about forty percent of their hard-earned incomes in taxes to the most criminal, most violent, most stealing, most fraudulent, most warring, and most cheating institution ever, i.e., the government. In European countries, net taxation may reach 70% of income. As predicted by Hayek in the 1940s, we are now worse than surfs who paid only one-fourth to one-third of their crops to the lords.
The economic consequences, as expected by far-sighted smart people, are even worse. Since the war on poverty started in the US in the early twentieth century, the growth rates have been a dismal two percent, not enough to cover the population growth. Hence, there is a chronic unemployment problem. The middle class has been shrinking, and poverty rates have been going up or staying the same despite billions of tax money being spent every year for over a century. The results are so pathetic everywhere that only an idiot can deny those. The drug war is another absolute failure. With decades of billions of dollars every year, countless people in prisons, uncountable lives and families destroyed, an unending array of regulations, and unbelievable brutality, drug use is still on the rise.
Prostitution is getting more and more common, public schools and colleges are getting worse, wars have failed to spread Democracy, and Government debt and deficits keep rapidly climbing. What else do we need to realize the unfolding disaster? Will we not wake up until we are turned into another Venezuela? The regulatory codes are now in thousands of pages, causing incredible spending with zero results. The situation is getting worse in most regulated sectors. This giant monster is made possible only by the unlimited printing of money by the Federal Reserve.
There is a massive downside to this vast amount of printed fiat currency. It is causing inflation, pushing down the standards of living and purchasing power, misdirecting precious resources to less productive endeavors, discouraging savings, and devaluing the Dollar. The dollar became the world’s currency because its value used to go up continuously, thanks to the ever-improving technology, productivity, creativity, innovation, invention, and efficiency in the American economy. Since we are losing the edge on these critical indicators and dumping trillions of printed fiat money into the economy, the Dollar is losing rapidly. Good luck.
