• 679 days Will The ECB Continue To Hike Rates?
  • 679 days Forbes: Aramco Remains Largest Company In The Middle East
  • 681 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,081 days Could Crypto Overtake Traditional Investment?
  • 1,086 days Americans Still Quitting Jobs At Record Pace
  • 1,087 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,091 days Is The Dollar Too Strong?
  • 1,091 days Big Tech Disappoints Investors on Earnings Calls
  • 1,092 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,093 days China Is Quietly Trying To Distance Itself From Russia
  • 1,094 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,098 days Crypto Investors Won Big In 2021
  • 1,098 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,099 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,101 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,101 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,105 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,106 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,106 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,108 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

  1. Home
  2. Markets
  3. Other

The Service Economy

I have visited and spent weeks at a time in Europe. On this recent trip however, something clicked for me as I stared out my hotel window at a train station and seeing other public mass transportation moving on the street. In Europe, I think that most people don't have cars because they're too expensive.

Then a friend in Vienna said 90% of the people get at least some welfare. I don't know if this number is accurate, but the reality is surely very high. It's socialism to a degree that is almost all-pervasive. My American friends should be aware: we are not even close to this (yet).

Europeans are aware that their administered economy isn't vibrant or dynamic. They know it's nothing like the US economy used to be, or even the way it is now.


And they're OK with that

It's but a small price to pay, they think, to achieve the goal of everyone being taken care of. The planners of course enjoy the power over people's lives, not to mention the endless opportunities for graft. The people, well, they are freed from responsibility to worry about the future. It's all taken care of.

And then it hit me. What is the ideal for these people (not all Europeans, but the ones who love this system)?

They want a world in which the government services them. The government is supposed to feed, water, clothe, shelter, doctor, and move the people where they need to be.

It's a view of man like livestock.

 


I am helping put together a series of Monetary Innovation Conferences. The first two are in DC on Nov 13, and Phoenix on Nov 17. This is not just for the right wing, but for everyone from the unbanked to Wall Street. At the conference, speakers will discuss gold and how innovators are using it to solve real problems for real people. Please click here to register.

 

Back to homepage

Leave a comment

Leave a comment