Yes JD, as Rome declined, the colosseum flourished. Keep your people’s attention on entertainment and off reality. Keep your people drunk, keep your people stoned, make them all get high, and they will all be owned! LGBQRST, BLM, social, trans, incredibly insane and unconstitutional and communist issues that keep the sheep occupied while America and the Entire West falls. We put the dumbest and most corrupt of society in positions of power in the name of “Equity”. I don’t know where the word is in our constitution, but looking at America today, we see it has failed miserably. Many like Mr Noone above have left our shores due to the corruption and insanity we witness daily, and I am personally looking down in Argentina for another bolthole because we all know the American Experiment isn’t going to end well. In the meantime, continue to live your best, love God and he will love you back, enjoy every moment with your beautiful families, work hard and buy the dip in Bitcoin:)
With hard money or with funny money, wealth can still be created. The elixir is capital wisely used.
No capital; no wealth.
The process of risking capital to produce wealth is called capitalism. Even communist and socialist societies have to resort to capitalism to produce wealth.
But like all governments, including ours, investing someone else's money doesn't engender the same assiduous husbandry that genuine risk-taking entrepreneurs bring to their ventures
At one point in the late 20th century, the USSR created a gold-backed ruble. I recall in the 1970's when I was in Russia being offered to transact business in this special currency.
But gold or faith backed rubles were still invested by Russian bureaucrats; not by individuals for whom success was essential to their well-being.
As a storehouse of value, I've often wondered why good land -- land which can produce food which is limited; no more can be created -- could not replace gold -- which is still being found.
A corollary point: I am empathetic to your contention that the liberalization replete in our society is lamentable, but I can't attribute it to funny money.
Funny money doesn't spawn the generations after generations of young change makers whose dress, speech and bearing is slightly but noticeably different than preceding generations who adopt some of these changes (e. g., my favorite: men who wear suits but no ties)
Can't disagree with any of it. It seems that religiosity conditions low time preference and thereby resistance to the promises of politicians to 'fix' things. This would be the 'culture first' argument. Work ethic and low time preference are culturally conditioned and once people get into the speculative and consumerist mindset then it's a vicious circle. You lose the moral grounding and everything goes to shit.
One of the reasons I live in Asia is that the moral foundation of society is intact and has been tempered by thousands of years.
Hard work, education and family are the primary reasons for success combined with a long term multi generational view of the future.
No, it is not perfect! But on balance, the further you get from the west the better the quality of life.
Thank you for your analysis JD. Yet again you are bang on the money. ( no pun intended).
I voted with my feet over 20 years ago and still have zero regrets!
Good luck my friend!
Yes JD, as Rome declined, the colosseum flourished. Keep your people’s attention on entertainment and off reality. Keep your people drunk, keep your people stoned, make them all get high, and they will all be owned! LGBQRST, BLM, social, trans, incredibly insane and unconstitutional and communist issues that keep the sheep occupied while America and the Entire West falls. We put the dumbest and most corrupt of society in positions of power in the name of “Equity”. I don’t know where the word is in our constitution, but looking at America today, we see it has failed miserably. Many like Mr Noone above have left our shores due to the corruption and insanity we witness daily, and I am personally looking down in Argentina for another bolthole because we all know the American Experiment isn’t going to end well. In the meantime, continue to live your best, love God and he will love you back, enjoy every moment with your beautiful families, work hard and buy the dip in Bitcoin:)
With hard money or with funny money, wealth can still be created. The elixir is capital wisely used.
No capital; no wealth.
The process of risking capital to produce wealth is called capitalism. Even communist and socialist societies have to resort to capitalism to produce wealth.
But like all governments, including ours, investing someone else's money doesn't engender the same assiduous husbandry that genuine risk-taking entrepreneurs bring to their ventures
At one point in the late 20th century, the USSR created a gold-backed ruble. I recall in the 1970's when I was in Russia being offered to transact business in this special currency.
But gold or faith backed rubles were still invested by Russian bureaucrats; not by individuals for whom success was essential to their well-being.
As a storehouse of value, I've often wondered why good land -- land which can produce food which is limited; no more can be created -- could not replace gold -- which is still being found.
A corollary point: I am empathetic to your contention that the liberalization replete in our society is lamentable, but I can't attribute it to funny money.
Funny money doesn't spawn the generations after generations of young change makers whose dress, speech and bearing is slightly but noticeably different than preceding generations who adopt some of these changes (e. g., my favorite: men who wear suits but no ties)
With reference to farmland; although it can't be replicated, it can be taxed. Which is maybe more difficult for governments to do.
Can't disagree with any of it. It seems that religiosity conditions low time preference and thereby resistance to the promises of politicians to 'fix' things. This would be the 'culture first' argument. Work ethic and low time preference are culturally conditioned and once people get into the speculative and consumerist mindset then it's a vicious circle. You lose the moral grounding and everything goes to shit.