Quoting Gary North:
Modern man believes in government-funded safety nets. He thinks that other taxpayers can and should be taxed to bail out those taxpayers who make bad economic decisions, so long as those taxpayers being bailed out are people like themselves. They don’t want bailouts for bankers, and they don’t want bailouts for people who got into no-money-down mortgages to buy in neighborhoods “above their station.”
Politicians feed this faith in government safety nets. They promise to bail out the poor man who fell into trouble through no fault of his own. Then they bail out bankers and the financial industry. Those are the people who screen who gets nominated. They have controlled American politics from behind the scenes since 1914. Franklin Roosevelt targeted them in his first inaugural address, but that was purely for public consumption. He was one of them in terms of his family origins, and he had worked for them selling corporate bonds from his defeat as Vice President in 1920 until his victory as governor of New York in 1928. This is covered in detail by Antony Sutton’s long-neglected masterpiece of a monograph, “Wall Street and FDR.”
This faith in safety nets has sustained men’s faith in the expansion of central governments all over the world. Voters have called for guaranteed retirement and guaranteed medical care for the aged. Now this is about to be extended in America to the poor through a system of national health insurance. The voters are supportive.
For two thousand years, Western man had faith in God, in private charities, in local churches, and above all the family to provide safety nets. But he has steadily surrendered his faith in all of these in favor of the state. The state is seen as a healer. It is seen as the provider of reliable safety nets. The state uses coercion to construct these nets. It consumes capital.
These nets are now stretched thin. Why? Because the largest banks needed the money. They got use of the safety nets while there was still capital to confiscate in the name of the People. Meanwhile, actual voters overwhelmingly opposed the big bank bailouts. They were ignored by the politicians.
Betrayed by civil government. Again.
Filed under: Economy, Politics, Worldview | Tagged: Economy, Politics | Comments Off on Faith In The Civil Government