The Progress of Liberty

When freedom and common sense depart one part of the world, they typically settle in another – although the change does not occur instantaneously. Nonetheless, the disastrous government interventionism that has occurred during the unjustified 2008 economic bailout has certainly done untold damage to the future economic climate of the United States. To see just how outrageously wasteful spending on the bailout has been, take a look at this chart from VoltageCreative.com.

Economic leadership in the world is rapidly shifting away from the United States and toward countries where economic policy is more solidly grounded in the production and provision of real goods and services – rather than the collective delusion that prices for existing real and paper assets will continue to rise in perpetuity. China is now in a position to seriously lecture United States policymakers on economic issues – which is precisely what Chinese officials are now doing. “China lectures US on economy,” an article by Geoff Dyer, documents what may be the beginning of a systematic shift in global economic dynamics. Because of reckless government-induced credit expansion, financial bailouts, and increasing socialization of businesses, the United States is fast becoming an economic basket-case. China, on the other hand, is moving in precisely the opposite direction. Since Deng Xiaoping assumed power in 1976, China has gradually transitioned away from Maoist communism toward a system of state capitalism, where the state is playing an increasingly weaker role over time. China is still not as economically free as the United States, but China is moving in the direction of more economic freedom, while U. S. politicians are foolishly throwing away the freedoms that have turned America into a global economic powerhouse.

Sincerely,

Gennady Stolyarov II

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