Thursday, May 5, 2011

So Why Aren't We Talking About the Coming Economic Collapse?

An Objectivist has pointed out something interesting to me: Despite it's very severe risk, very few Objectivists seem to be acknowledging that an economic collapse is probably, if not certainly, soon coming to America. The political implications of that happening are enormous, and I think we should be addressing this very strongly since these may very well be the final years we can try and inject good ideas into culture before the window of opportunity closes. Yes, it's a scary and depressing subject to think about -- hyperinflation in the U.S. -- but one that is necessary to deal with. Besides, I find that the more I face the issue the more my nerves are steeled against the oncoming event, so don't evade the problem with the thought that facing it will bring perpetual discomfort.

I'm still optimistic for the future, that the right ideas will gain traction at the right time and bring us to a better future, but for now there's an inertia we have to fight that will bring us some pain in the meanwhile. Sure, hyperinflation is an avoidable phenomenon, and it may be possible that the nation will save itself from having to experience it, but given today's premises I think it's more likely that the bad ideas are going to play themselves out and we'll run into man-made disaster. To my layman understanding, the major problem we might face is the collapse of U.S. currency since it isn't backed by anything of value, like gold. Currently the country is borrowing money from other nations in order to spend it on consumption of goods rather than producing more goods of value to pay the loan back, so once the countries understand their loans aren't going to be paid back and retract their backing, the U.S. will have to deal with its non-production and worthless money. (See this Peter Schiff video for a full explanation of the causes that could lead up to this event.) We can stop it and should try to stop it, but since our politicians have adopted certain premises and are refusing to question them, I think they're just going to continue acting consistently with those premises until they get hit on the head by reality -- and us too.

If the collapse happens, as it probably will, then it's going to call for some major action to address it, and I think those actions will be of such magnitude that they might definitely let us know what trend the culture is going to take from here on out for the rest of our life: totalitarianism, or freedom. Undoubtedly the politicians are going to try and take advantage of the crisis by striving for huge power grabs, and they might try to complete the steps to dictatorship in that time frame, taking advantage of public desperation. On the other hand, this just may be the pain the nation needs to experience, as the disaster could make Americans fully realize the devastation bad ideas can bring and make the life-or-death choice of opting for the right ideas. It could go either way at this point, but given how close the disaster might be and how serious it will be if it does happen, we need to start factoring this scenario in since the window of opportunity for change could very well be closing right before us. It's win or lose, now. 

This is why activism has been much on my mind lately, and why I've started striving to post one political article (with my commentary) to my Facebook page each day as a start. There's no more time to sit around hoping that other people will change things for the better without my help. If things go to hell and I've done nothing to resist it, then I'm partially responsible for allowing it to happen. But the above aren't my only plans for activism. There's further thinking to be done, but I'm also thinking about regularly writing activism-oriented articles, wearing political clothing (e.g. "Who is John Galt?") to spur interest and conversation, donating to my favorite political organization, distributing books, and more. My efforts haven't been a chore so far, as recognizing the bad times has been making feel motivated to go to action, and that action feeds my urges. Political debates may be scary to enter into and can cause a lot of strife for those unable to do so civilly, but there's so much more to lose and pain to be caused by not doing so, so don't let a little fear stop you; once you get used to the process, calmer emotions and resistance to stress come naturally during debate. You just have to allow yourself to get used to the process by being a part of the process.

Just as Obamacare was an opportune time to talk about freedom in medical care . . . just as Osama Bin Laden's death is an opportune time to talk about rational foreign policy . . . so will our dangerous economic policies be an opportune time to talk about the political roots of all the economic destruction around us, but when that opportune time should come may be too close for comfort in terms of initiating the proper focus and activism, so I think the contemplation and speaking out should begin now. Remember, as painful as times may get, there are still ways to more comfortably endure them, if we do have to endure them, so don't fret even if they do come to fruition. They're survivable, and I think there's a future worth living for on the other side.

We have to hold on tight for the ride, but don't give up now, or remain silent. Remaining silent is what our enemies want us to do.


  1. I think the coming economic storm (which could take a variety of forms), will create a make-or-break crisis for America. During that time, Americans will be looking for solutions -- and we have to be prepared to offer them, in the forms of free markets and individual rights.

    If Americans take this path (which may seem hard at first), we'll prevail. On the other hand, if they listen to voices promising an easy "fix" through more government controls, then we're sunk.

    Those of us who care about the future of freedom in this great country will have to gear up for this upcoming crucial battle of ideas. Thanks for putting us on notice...

  2. Yaron Brook has been talking about the coming collapse, saying that perhaps our last chance to move toward freedom is now. I have been talking about it since I started my blog, The collapse may take many forms, as Paul says (Schiff is not a good source - see my blog).

    We really want to have some impact before the collapse. Afterward people will just blame capitalism and freedom, since they won't know any better, just as they did after the 2008 meltdown. Now is the time.


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