The Bubble That Must Burst

Submitted by Bill St. Clair on Tue, 31 Mar 2009 11:50:46 GMT  <== Politics ==> 

Michael S. Rozeff at - the biggest bubble of all time, the most blazen Ponzi scheme, must burst, and soon. And not just because we want it to. Because it's existence violates the laws of nature. What is this bubble? Democracy, of course. [gsc]

The bubble that must burst is a very, very large bubble. It is worldwide. It is co-existent with most nations of the world.

Like all bubbles, for a time it appears rational. It even seems to work. The bubble seems to bring all gains and no losses, and all at very low cost. The returns seem very high and never-ending. They attract the resources and allegiance of many because the yield seems so high.

But like all bubbles it cannot go on forever, because it is based on greed and gain extracted from other persons against their wills. It is a bubble based on extrapolative expectations that eventually cannot be sustained by reality.

What is this bubble? It is the bubble of constitutional and representative democracies that lack the consent of all of those being governed. It is the bubble of states that promise more and more social gains and cannot deliver upon these promises. It is a bubble of governments that are chain letters and Ponzi schemes. It is a bubble built upon robbing some to pay others.

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