The Mandatory All-In, Let it Ride

As Bernie Sanders stalks the Democratic nomination, pushing aside Mayor Pete, Leg-Hair Joe, and Pocahontas, this piece from economist Alexander Salter is a must read.

While the 2020 contest for the White House is sure to be entertaining, and if there is a Sanders vs Trump matchup that would force the country into a greater examination of quasi-socialism vs. quasi-capitalism, it is still more important to examine how and why the stakes of the political game have become so dire.

One need not be a great student of history to know that when the fiscal condition of an empire (see Rome) or nation-state-empire (see France) becomes grave, i.e. buried by a mountain of red dirt/ink and vampire monetary policy, tumultuous political and social strife result.

Dreadful finances lead to emaciated standards of living.

The founding fathers–some, but hardly a strong majority of them–who would later frame the Constitution of 1787, established a system designed to preclude such conditions.

Did they fail?

If they did not, then we have certainly failed them.