In view of yesterday’s “historic” vote (indeed it was: one of the greatest blunders in history), I recommend reading this essay by law professor Butler Shaffer entitled “Consuming Our Capital.”
America built up tremendous capital during the years when freedom prevailed, but since the 1930s we’ve changed the rules so that those who want to consume our capital (i.e., wealth belonging to others) can easily do so. That trend has been accelerating rapidly in recent years and is now in high gear.
Greece, here we come.
