Having seen their socialist dreams collapse in the Soviet Union, China, Europe and Latin America, members of the left wing have one last chance to test their utopian vision of society – here in the United States.
This is only possible because our country is so wealthy and prosperous from decades of capitalist-led growth and progress that they can promote many of these socialist policies without an immediate economic collapse.
With all of our resources and productive capacity and the reserve-currency status of the dollar, socialists could bleed this country to death slowly for decades before leaving an empty shell for the unlucky next generation of Americans. What would this country look like in 20 years if they succeed? Here are a few possibilities that might become reality by 2030 if we’re not able to stop socialism from infecting every corner of our economy.
The structural or natural rate of unemployment rises to 20 percent, with another 20 percent of Americans chronically underemployed or not seeking work at all. This may sound ridiculously high, but this level of unemployment, underemployment and dropping out of the labor force has happened before in socialist economies.
It could be even worse than this. An extreme socialist government may force people to take jobs they don’t even want for subsistence wages as a condition of residency and to make the unemployment rate seem lower. Most of the jobs that do exist are with the various levels of government and large corporations or quasi-governmental nonprofit agencies that are subsidized or supported by the government.
Legitimate small businesses nearly cease to exist. The extremely high rates of taxation and onerous regulations promoted by the socialists destroy the incentive and ability of entrepreneurs to create and sustain new businesses. Currently, 90 percent of all new jobs are created by small businesses and 650,000 new businesses are created every year in this country.
Entrepreneurs, seeing that this country has become hostile to them, decide to leave America in large numbers for more market-friendly places like Asia, Europe and Latin America. Governments in all of these regions are taking steps to bring down taxes, regulations, and to welcome capital and entrepreneurs.
This is what America did for most of our history. We led the world in welcoming capital and entrepreneurs. Now we are turning our backs and our anger on the same people who created the prosperity that we enjoyed for so many years. The trend of decline in small-business formation and hiring already has been in place now for two years and is getting worse.
The dollar loses its status as reserve currency, inflation becomes rampant, interest rates soar and our credit system stops functioning. The black market and barter economy becomes a huge percentage of transactions. Demand collapses because people have no money. Banks, other than those financed by the government, go out of business. Capital leaves the United States and the dollar for safer, more stable currencies and more market-friendly governments. Tax receipts collapse and almost nobody actually pays any taxes. The government is forced to print more and more money to keep functioning. They nationalize more and more industries because nothing can operate at a profit anymore and nobody from the private sector has any incentive to restructure.
Many states that oppose the socialist federal government attempt to secede and break off into their own independent entities. They form their own trade alliances with major trading partners and defense pacts. Some of them try to start printing their own currencies because there’s no longer a significant benefit from being attached to the dollar. They peg their currencies to a basket of stable international currencies. There is constant economic, legal and military tension between these independent, pro-market states and the socialist regime in Washington. We can already see the beginning of this tension building in states like Texas and Arizona.
The United Nations and International Monetary Fund have a major role in determining U.S. economic and social policy. The military dominance of the U.S. is dismantled because we no longer can afford it and because we no longer have the technology or human talent to sustain it. China, Russia, India, Brazil, Japan, Europe and other market-friendly emerging countries become much more important in the world. The U.S. is no longer the voice of freedom and capitalism in the world. We are viewed as a broken country that is a shadow of its former self in much the same way that Great Britain was viewed after World War II.
Riots in major cities are common and increasingly violent as shortages of goods and jobs take their toll on the standard of living of most people. The government is forced to restrict individual freedoms more and more just to prevent anarchy and total revolution from breaking loose. The Bill of Rights is suspended. Guns are confiscated from law-abiding citizens. Political enemies are arrested and sent to detention camps without due process.
People might wonder at this point what kind of people might think this nightmare I’m describing is a utopia. It’s the same kind of people who think unemployment checks create jobs. The same kind of people who think lawsuits and taxes are the way to save the environment. The same kind of people who think racism is the biggest problem in this country. The same kind of people who think the U.S. owes an apology to the Muslim world. The same kind of people who think the federal government should run health care and control every part of the finance industry. The same kind of people who constantly attack the top 1 percent, or 3 percent, or 5 percent (have you noticed the percentage keeps getting bigger?) of earners even though it is these people who create all of the private-sector jobs. The same kind of people who think government, not the private sector and individuals, should decide how people are allowed to live and work in this country.
Does any of this sound familiar? That’s because it is the people running the White House and Congress right now who believe all of these crazy things. They don’t care if our economy and standard of living are destroyed. All they care about is their ideology. Their socialist utopian vision will become our nightmare if people don’t wake up to the disastrous course they’ve put us on and do something to change course before it’s too late.