ELDER PATRIOT – It doesn’t take a degree in finance to know that debt is bad, and that more debt is worse. In some instances though, debt when used for the right purposes can benefit the borrower. The ability to differentiate between what are bad reasons for taking on debt, and what are good or acceptable reasons for taking on debt can be confusing to many people. Exploiting this confusion is what has allowed the politicians of both parties to drive us close to $19T in debt.
Debt may be acceptable when it is used to fund the growth of money, or when it allows the borrower to attain an asset with high potential for increased value sooner that he otherwise could have. Examples of the first reason would be taking on some reasonable level of debt to fund the start-up or expansion of a business with a high expectation of successfully generating an acceptable return on that debt after it has been serviced. The best and most common example of the second is borrowing for a home mortgage.
Under both scenarios the value of the asset that is the target of the borrowing is expected to increase, or at least increase cash flow significantly. Even more important is that the asset outlives the length of the loan. Being stuck with payments for a loan on an asset that no longer exists makes no sense.
Politicians have spent virtually the entirety of America’s history ignoring the rules of smart borrowing outlined above while ignorant Americans applauded their “progressive” programs. For the politicians these programs bought constituencies of the ignorant and selfish. For the American taxpayer these programs came at a high expense with no economic return. Like a sailor on shore leave, taxpayers were left paying into the foreseeable future for nothing of tangible value.
Now, as total U.S. debt closes in on $19T for fiscal year 2015, we are quickly approaching financial insolvency. As is happening in Greece, austerity will come to our shores. Unlike their relatively homogeneous society though, America has been splintered into diverse ethnic, economic, gender, and age groups by the politics of the past fifty plus years. When austerity is imposed here there will not be a sense of oneness. Everyone will aggressively pursue their personal self-interest as they have done in voting to get us to this point. It is likely that the violence that then ensues will make this past summer’s riots in Ferguson and Baltimore look like peaceful protests, and be much more widespread.
For Progressives, who have incurred much of our debt preparing for this eventuality with the establishment of FEMA camps, militarization of multiple government agencies, purging of military generals committed to Constitutional adherence, the repeal of posse comitatus, and creating a giant spy network focused on the American people, the end game will be fraught with questions.
Their goal is the “enslavement” of the American worker through the imposition of socialism in all of its form. This would culminate their 100-year effort to consolidate all political power in a single command and control government and, in the process, put the control of all wealth in their hands. The have probably gaged the attitude of resignation among a large majority of Americans correctly.
However, the Progressive’s ultimate success hinges on defeating the spirit of 80,000,000 gun owners who far outnumber the troops the government can cobble together by uniting the federal military, and state and local police forces. The rise of the Oath Keepers within the membership of these governmental institutions puts the fidelity of the government’s forces into as much question as the commitment of America’s private gun owners have to preserving freedom at all cost.
As Progressives of both parties move to shut down debate the scary truth is that there may no longer remain a political solution to preserving freedom.
Speaking for the entirety of the Founders, Jefferson was clear about the reasons for inclusion of the Second Amendment to our Constitution: “The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.” — (attributed to Jefferson, by his contemporaries)