Still
unnoticed by a large part of the population is that we have been living through
a period of relative impoverishment. Money has been squandered in welfare
spending, bailing out banks or even — as in Europe — of fellow governments. But
many people still do not feel the pain. However,
malinvestments have destroyed an immense amount of real wealth. Government
spending for welfare programs and military ventures has caused increasing
public debts and deficits in the Western world. These debts will never be paid
back in real terms. The welfare-warfare
state is the biggest malinvestment today. It does not satisfy the preferences
of freely interacting individuals and would be liquidated immediately if it
were not continuously propped up by taxpayer money collected under the threat
of violence…..To Read More....
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