- Jan 17, 2004
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I rarely see this discussed, as most people seem to be under the impression that the U.S. government will continue to exist long after they are dead. But the U.S. government, like all governments in history will eventually come to an end. So the questions are: when will it end? How will it end?
The most common answer I've heard so far is illegal immigration. A lot of people believe that the U.S. government will simply be transformed into some other foreign government when illegal immigrants become the majority of the population and vote themselves into office.
My prediction is that the U.S. government will eventually go bankrupt and the Federal Reserve will collapse. The reason is very simple: politicians do not care about the government's debt. They are simply not liable for it and they will be out of office and or dead long before the chickens come home to roost.
Imagine a system in which someone owns something that is producing income for them. For instance, a king who owns a kingdom. Since their continued wealth is dependent on that kingdom that they own, they will take care of it so that they can continue to milk the revenue. They probably won't completely consume the resources of their property and run it into the ground.
Now a imagine a system in which someone controls something that generates wealth and may expend its resources, but they do not get to keep the wealth that thing generates (or at least only a very small part). But furthermore, they are not liable if that asset goes bankrupt. Any psychologist or economist will tell you that it is very likely that they will divert the resources of that asset towards areas that will give them as much of an advantage as possible (in the case of politicians, political capital) until the resources of that asset are completely depleted. This is to say that not only will they continue to consume all of the revenue that they receive in the form of taxes, but also continue to borrow and consume more than their total revenue stream allows.
And so that is why I am 100% positive that the U.S. government is going bankrupt. The only question is when.
The most common answer I've heard so far is illegal immigration. A lot of people believe that the U.S. government will simply be transformed into some other foreign government when illegal immigrants become the majority of the population and vote themselves into office.
My prediction is that the U.S. government will eventually go bankrupt and the Federal Reserve will collapse. The reason is very simple: politicians do not care about the government's debt. They are simply not liable for it and they will be out of office and or dead long before the chickens come home to roost.
Imagine a system in which someone owns something that is producing income for them. For instance, a king who owns a kingdom. Since their continued wealth is dependent on that kingdom that they own, they will take care of it so that they can continue to milk the revenue. They probably won't completely consume the resources of their property and run it into the ground.
Now a imagine a system in which someone controls something that generates wealth and may expend its resources, but they do not get to keep the wealth that thing generates (or at least only a very small part). But furthermore, they are not liable if that asset goes bankrupt. Any psychologist or economist will tell you that it is very likely that they will divert the resources of that asset towards areas that will give them as much of an advantage as possible (in the case of politicians, political capital) until the resources of that asset are completely depleted. This is to say that not only will they continue to consume all of the revenue that they receive in the form of taxes, but also continue to borrow and consume more than their total revenue stream allows.
And so that is why I am 100% positive that the U.S. government is going bankrupt. The only question is when.