From Gonzalo Lira:
... I have the argument that explains why fiscal deficits happen. Moreover, I can explain why fiscal deficits occur in a democracy in a manner which is different from any other sort of regime.
My theory can explain why fiscal debts in a democracy grow once they start, and I can explain why this growth in debt inevitably, inexorably leads to the bankruptcy of the democratic regime. Further, I can prove — by sound and valid argumentation — that the United States is going bankrupt right now because of this process.
It’s an overall concept I’ve designated as the Democratic Bankruptcy Paradox: The paradox by which every democracy eventually goes bankrupt — regardless of the people’s will and intention of keeping it from going bankrupt.
That’s why it’s a paradox: The citizens of a democratic state are supposed to control its destiny. They obviously do not want their nation to suffer bankruptcy — yet in spite of their will and intent, democratic states always go bankrupt. Always.
This post will outline my proof of why this is so...
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