Things have accelerated over the last week because one by one the democracies of the first world are admitting that they are broke. France wants to raise the retirement age, Canada is sending weapons to Ukraine it could not afford to buy for itself, Germany is squeezing money with fees, and the US is heading toward another debt ceiling.
I tend to favor a combination of Occam’s Razor and Hanlon’s Razor: look for the simplest solution that does not attribute to malice what is statistically more likely to be stupidity. In this case, we are talking about the stupidity of the voters, who keep demanding things government cannot realistically provide.
History will be shown in the future to be a series of panics and crazes, with the Herd running from a fear toward a lottery-like vision of free money for everyone, and in the process, destroying all continuity and common sense. The last panic was the Great Depression, but the new panic is going to be the dissolution of governments.
When our societies were new, we kept this in control because we had a goal, which in the case of the West was a transcendental goal: come to understand reality, appreciate it, and amplify its goodness. We aspired to excellence. But once there were competing power structures, that went out the window.
Competing power structures naturally arise with disasters. One group does something that makes them more important than others, so the social group accepts them as leaders, and they then show how they are out of their depth with other issues. The Mongol, Hun, and Moorish invasions brought this to the front.
Another factors was Christianity. When you have an internationalist religion, it becomes a power structure in itself. This was not a problem until our prosperity created the biggest group of intelligent bourgeois idiots in history, the middle classes, who wanted to turn society into a shopping mall.
On top of that came the problem of waste humans. As a society grows, it stops nature from killing off the foolish, solipsistic, selfish, and paraphiliac. Consequently you build up a huge group of people who can have jobs and follow instructions, but utterly lack common sense. These were originally called fools.
Waste humans come about through deleterious genetic mutations which mean they are incomplete humans. The parts of the brain used to understand things larger than the self do not work, so they revert to the third world level of hand-to-mouth existence. Most criminals come from this group.
A smart society defecates its waste humans into some far-off colony that it does not depend on at all. Normally Europe excreted its poo people into North Africa, where they bred with far simpler people in such a way that erased their worst mutations and made minimally-functional human beings in four generations.
Add all of these problems up, and you have a society that can no longer agree on the biggest issues, so instead it focuses on the small. Instead of one power structure, it has many, and these spend more time fighting with each other than working on the issues.
That happens because fixing issues is not difficult but it involves risk and saying socially unacceptable things. If the Herd accepted common sense, it would not need leaders, but instead it crusades against reality and goodness so that each person can feel safe from others rising above the crowd because those people can think clearly.
At that point, the road leads away from the path to transcendence and success and goes down the long trail to individualism, then democracy, and then something like Communism, where free stuff taken from others is traded to voters for support of the insane. Dumb people love this stuff; it is why they are poo people.
Democracy makes a stop before full tyranny, which like Communism involves vote-buying, which is to what the Herd calls a “Golden Age” of prosperity when the government can still give out free stuff. Eventually the government spends itself into debt, and at some point, the money stops coming.
The West is at that point now. We are headed for a cascade of defaults accelerated by the Carter-era economic malaise-oriented thinking of the Biden administration. The cities will go first, then the states, then governments, and finally individuals who have been living off credit cards to try to stave off the abyss.
Biden has figured out a way of making himself a martyr. Like the investigation into Hillary Clinton’s law-evading email server, the Biden garage documents will go nowhere because nothing of substance can be proven and Hillary controls the DOJ, so it will investigate-to-exonerate as usual.
In the meantime, however, Biden is going to pitch this as the evil Trumpsters coming for him and try to rally his base in order to ram through a few more big spending packages as the end approaches. He may decide to provoke WW3 at that point, simply because only wars can fix this level of sustained economic mismanagement.
What will default look like? Any currency you have will become nearly worthless. The wealthy will be fine because their wealth consists of investments, which will take a beating that like all market valuations is temporary. As things come back online, they will still own the same percentage of the wealth of the country.
On the plus side, your credit card debt will be easily paid off, if you have the now-worthless currency enough, but most will not do this and will instead sign debt notes in the new currency, impoverishing themselves for multiple generations. Did you trust democracy? Pity the fool.
However, cuts will have to come, and government will do this by not making decisions. Instead of axing the programs it cannot afford, it will keep all of them and instead just lower the budgets for each. Your pension will pay half of what it did, but you will still have your pension.
Government thinks — it always banks on this — that making people poor, bored, terrified, and miserable results in them clinging to government. They do, to a point. However, they stop taking any affirmative steps toward productivity, so the value of the nation crashes to third world levels.
You will in short wake up in what happens in every democracy: everyone is poor, there are constant wars, nothing works, corruption is rampant, and you are ruled by a party that depends on elections but somehow never leaves power. Every year things will get worse until you are Mexico, Brazil, Vietnam, Ukraine, or Mongolia.
Again, the politicians are not incompetent. They are master jugglers; they have kept the system going even as it races toward its doom. The media obeys a binary rule that says either the current system is working or the situation is so bad that reporting on it will do no good. The people — “we the people” — are in denial anyway.
Leftists simply represent the cutting edge of denial. They believe in the principle behind democracy, therefore they cannot bear to see it failing. As a result, they will lie, cheat, and steal in order to keep it afloat, and sacrifice anything that they can to feed the fires.
As the Great Default dawns, it will slowly become clear to your neighbors that everything they own and have worked for will become proportionately worth a lot less. The pie that they have been busily carving up is now smaller. Expect their attitude toward giving and compassion to change as a result.
You will get to kick skulls out of the way as you walk to the metro. You will experience a hard life. You will regret deeply the two centuries that the voters stayed in a deep slumber of illusory dreams. But at least the worst will have happened, and then you will have an excuse to rebuild.