Mania and the Economic Meltdown of Society
by Barnabe Geisweiller
During a period of the Dutch Golden Age prices of tulip bulbs reached extraordinary levels. Single tulip bulbs were bought and sold for small fortunes, making some very wealthy. It is widely considered the world’s first speculative bubble and, like all bubbles, it suddenly collapsed. The period is popularly referred to as “tulip mania.”
There have been numerous manias since the tulip craze of the 17th century. Recent bubbles include the dot-com bubble and many real estate bubbles around the world. In bubbles products and assets trade at considerably inflated values compared to their intrinsic ones.
Today, we are at the end of a period of wealth and excess like the Roaring Twenties. This time it is the value of money itself that has been distorted, and the pursuit and concentration of wealth without a relative productive merit to society that has reached the point of mania.
1950: The total U.S. national debt is about 257 billion dollars.
2010: The U.S. national debt is increasing by over 4 billion dollars per day.
1950: If a member of Congress doesn’t tell the truth it is a felony.
2010: If a member of Congress doesn’t tell the truth they are just playing politics.
1950: Americans dress up in suits and dresses to get on an airplane.
2010: Americans are forced to walk through full body security scanners that give gawking security workers a clear view of their naked bodies before they can get on an airplane.
1950: American schoolchildren openly read the Word of God and pray in public schools.
2010: Attempting to read your Bible or pray in a public school will get you slapped with a lawsuit by the ACLU.
1950: Wealth redistribution is considered communist and anti-American.
2010: Wealth redistribution is the official policy of the U.S. government.
1950: The U.S. Constitution is deeply loved and highly revered.
2010: Federal authorities are instructed to be on the (Read More...)