Or take the right to vote. In principle, it is a great privilege. In practice, as recent history has repeatedly shown, the right to vote, by itself, is no guarantee of liberty. Therefore, if you wish to avoid dictatorship by referendum, break up modern society’s merely functional collectives into self-governing, voluntarily co-operating groups, capable of functioning outside the bureaucratic systems of Big Business and Big Government.
-Aldous Huxley, in Brave New World Revisited (1958)
The single event that changed my life more than any other was TARP, aka the banker bailouts. The unfairness, extreme greed and selfishness with which the status quo bailed out financial criminals while leaving the public high and dry changed me forever. When it comes to shaping American history, it is equal in importance to the attacks of 9/11.
As someone who grew up privileged, I never really questioned the criminality of the status quo system. Like so many others who are beneficiaries of the ways things are, there’s no much incentive to look behind the curtain. Nevertheless, the banker bailouts shook me to my core and opened my mind in ways that no other event could. At the time, I was happily earning a very large income at a young age while doing absolutely nothing to benefit society. As such, I couldn’t contemplate why government officials were putting so much money and energy into bailing out people like me, while ignoring everyone else. It felt irrational, unethical and dirty. I wrote about all this for over a year while still working in the financial sector, before concluding that it was time to part ways in early 2010. Even back then, I was incessantly warning that tremendous anger from the banker bailouts would ultimately bubble to the surface and create the sort of backdrop in which authoritarians, demagogues and fascists thrive.
The following years have felt like a tremendous rollercoaster ride. My emotions have vacillated significantly from pessimism to optimism, and now reside in a bizarre state in which the two inhabit an uncomfortable coexistence. I’ve previously defined the monumental struggle of our time as: Liberty and Decentralization vs. Authoritarianism and Centralization. For example, I noted in the post, The Comcast/Time Warner Merger and the War Between Centralization and Decentralization:
This post was published at Liberty Blitzkrieg on Jul 19, 2016.