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08/14/2007 Archived Entry: "Lessons from ancient Rome"

REMEMBER THE FALL OF ROME warns David Walker, comptroller general of the US. Rome lasted 1,000 years, but less than half of that as a republic. It collapsed due to “declining moral values and political civility at home, an over-confident and over-extended military in foreign lands and fiscal irresponsibility by the central government”. His simulations suggest a future of "“dramatic” tax rises, slashed government services and the large-scale dumping by foreign governments of holdings of US debt." Read his unusually frank and sober assessment here. (PDF)

One thing Mr. Walker did not mention, dare not mention, is the role of continual debasement of the currency in both the fall of Rome and today. To understand why no politician (except Ron Paul) wants to talk about that problem, read Lew Rockwell's essay Reality vs. the State.

-Silver

Posted by Silver @ 07:02 AM CST
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