The American system borrows money to encourage investment in the industries spending the most money on Congress. Many of the consequences of this system will only be seen when someone has to pay back the loans. We can all see some of the implications, but the irony of our National Student Loan situation is new to me.
As a nation we have a congressional student loan as large a percentage per capita as any individual graduationg our schools systems. And we have not yet graduated. Our governement continues to spend our borrowed money to educate we the people to the importance of all the industries which invest in our Congress. Money we don’t have is invested in protecting our lawyers and the judicial and taxation industries, insurance and environmental industries, and now with the SOPA and PIPA laws the arts and entertainment industries. We are indoctrinated to the necesities of hiring people who add little to the national treasure, and we pay for it with the future earnings of our children.
Our government has already convinced us that making a new law is the way to solve a problem. This supports the growth of our government and its supporting judicial industries such as law enforcment and law and business schools. There are several problems with the social dynamics this system creates, and many of those problems will not be evident until it is time to pay the bill.
But much of the destructive dynamic is evident now. As many as 20 million “illegal” immigrants can work cheaper than Americans because they cannot invest in the system and pay into the welfare and banking systems, creating a huge second American economy suspicious of government. We imprison five times more citizens than other countries costing us over $60 billion yearly. Congress alone costs us over $5 billion yearly. No one knows how much it costs us in mandatory insurances for cars and homes. We have laws that make it impossible to sell a hotdog without insurances, inspections and permits. There is practically nothing we can do that is not illegal in some aspect without first paying for government help.
Government provides the help, of course, with required lawyers and insurances and taxes and permits which are practically if not explicitly required. And those industries dutifully pay back to Congress just enough to be sure the system remains the same, that only those invested in the system get elected. But this system will paid for, in large part, by our children when the bills come due.
When will the bills come due? It seems to me that will happen when confidence slides in the American dollar. Economies are only as strong as the confidence of those invested in it. When confidence slides so does investment. For a long while our economy has enjoyed world confidence, and investments even from our nominal enemies. But now the influences of our indoctrination of our citizens to support industries which produce nothing, and deficit spending higher than the Gross Domestic Product, and almost every developing country growing by leaps and bounds by comparison with us due to the fact that they do not legislate every move by their citizens, it seems inevitable we are headed for an economic fall.
Copyright 2012 Kent Johnson
