One of our foremost gloominaries is Patrick Buchanan. Today, in a ringingly despondent essay, he looks at the past and the future of the Republican Party, and considers its prospects in light of the inexorable trend, in all democracies, toward relentless government expansion and ultimate exhaustion.
His concluding remarks:
If we would see our future, we should look to Europe. There, the governments consume more than 40 percent of GDP and, in countries like France, almost 60 percent.
In Europe, the militaries have been hollowed out. Political parties face repudiation. Taxes in France have hit 75 percent. The wealthy flee. Pension promises are reneged upon. Government salaries are cut; employees laid off. Unemployment is astronomical for the young. The divisions deepen; the protests grow. Now, Europe’s banks, fearing social unrest, have started to emulate the Fed and buy up regime debt.
Looking at the West over the last century, the arc of history bends toward socialism and insolvency.
Read the whole thing here.