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America’s Future: Instability, Insecurity, Inflation, and Insurrection? Don Boys, Ph.D. Posted June 24, 2012

Titanic-iceberg.jpgIs America about to hit an iceberg, or to change metaphors in midstream, are we about to experience a train wreck unlike any other? Economic disaster is dead ahead and we are racing toward it at an incredible speed. Elected officials, of both parties, are reckless, hopeless, irresponsible, and criminal. The financial abyss is too wide to jump but stupid politicians will try to make it with two jumps! The really dumb ones will try three jumps!

Nobel Prize winning economist Robert Mundell declared, “We’ve never been in this unstable position in the entire currency history of 3,000 years.” And make no mistake; this disaster will not be confined to the U.S. but will be worldwide. Fearful of getting caught with U.S. dollars when the music stops, China and other nations are buying gold. Why add almost worthless U.S. dollars to the astounding hoard of dollars they already possess? They know that our dollar is flopping on the deck like a dying fish.

About half of Americans believe another great depression is coming in the next two years followed, I believe, with heart-stopping inflation. I believe it will be an historic global disaster that will produce hostility, hardship, hoarding, homelessness, hopelessness, hunger, hatred, hysteria, homicide, and horror–international horror. It may be so bad that many nations, including the US will declare martial law and incarcerate masses of ordinary Americans who take the wrong positions, ask the wrong questions, advocate the wrong issues, and act the wrong way.

It is dangerous to be right and advocate it, when the government is wrong. Police officers and the military will probably be ordered to shoot Americans “to restore order.” Some of the officials will refuse to obey orders which could cost them their lives, producing even additional chaos, resulting in danger, disorder, and death.

With so many citizens out of work who cannot pay taxes, the government will receive less and less money while expenditures grow more and more. Without money to pay the interest on our national debt, the only way out is to print more money resulting in hyperinflation. That is reminiscent of Zimbabwe where in recent years three eggs cost one hundred billion dollars and hamburgers cost fifteen million dollars. Almost everyone in Zimbabwe is a millionaire. They are starving to death but they are millionaires. Watch out America. Here we come.

Without money, the U.S. Government will have to default on payments to seniors, vets, disabled, etc. No more checks from the Feds! When the old folks, disabled, and veterans storm the Capital in desperation, that will be the government’s justification for the military to keep order contrary to the law. The military will be ordered to keep the peace (in direct opposition to the Posse Comitatus Act of 1878 that prohibits the use of U.S. military forces to perform the tasks of civilian law enforcement). Authorities will say, “but disaster is ahead, so it’s necessary just this time.”

Senator Mark Warner warned, “We’re approaching financial Armageddon!” And Senator Joe Manchin said we face a “fiscal Titanic!” However, federal officials close their eyes to the facts and demand, “Full speed ahead.” After all, what’s a little ice to this unsinkable ship?

Inflation can destroy America as it has done to other nations. In the 1990s, Yugoslavia, a southeast European nation, was broke. Yugoslavia was an outgrowth of WW I, and following WW II, it became a part of the Soviet Union. Of course, Communism never works and the nation was bankrupt. The Communist officials decided to proceed down the ramp leading to the inflation freeway that leads to serfdom as has happened to so many other nations. Communism never works.

Since Yugoslavia was out of money, public officials did what all respectable stupid politicians do: they began to steal the peoples’ money. (Think: Obama’s plan to take over our retirement plans!) Furthermore, citizens were limited in removing their own funds from their banks. (Think: Roosevelt’s “bank holiday” two days after he took office in 1933.) We can always count on politicians being politicians and count on totalitarians being totalitarians.

Of course, the Yugoslavian government’s effort to restore sanity was insanity. They forbade people access to their own money and started to print money day and night, a practice followed by so many other nations. They established wage and price controls that have never worked. With prices doubling so often, the producers (forbidden to raise their prices to keep up with inflation) did what even a fool would do: the producers stopped producing! Why work and produce when you can’t even break even? One does not have to be a Nobel Prize winning economist to understand simple economics.

Citizens could no longer purchase bread, cheese, cars, gasoline, clothes, and other necessities. And even if bread were available it now cost $50,000,000,000,000. That’s 50 trillion dollars for a loaf of bread! At this time, society fell apart or more correctly was ripped apart by incautious, indecisive, incompetent, and inept public officials.

The desperate, the demented, and the dishonest elements in Yugoslavia preyed upon helpless, innocent people. They robbed pharmacies, taking drugs and selling them in front of the stores they had robbed! The nation came apart especially in the cities.

Yugoslavia no longer exists.

More articles by this author…

Copyright 2012, Don Boys, Ph.D.

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