Tuesday, 17 August 2021 — Gold Coast, Australia

By Vern Gowdie Editor, The Rum Rebellion

[4 min read]

Dear Reader,

‘A buffoon is someone whose ridiculous behavior is a source of amusement to others.’

Vocabulary.com

Some people might get their hackles up and say, ‘Trump was a buffoon.’

I disagree.

The Donald’s ridiculous and unpredictable behaviour was a source of great angst — not amusement — to others.

He had the knack of getting deep under the skin of his critics and opponents…making their blood boil.

Whereas poor old Joe, well, you just feel sorry for him…or at least I do.

Biden is the left’s marionette. They expended a tremendous amount of energy to push, pull, and prop Joe up to the finish line.

It’s not Biden’s fault for being in the wrong place at the wrong time. My guess is he was lured out of retirement with the promise of ‘Joe, mate, how’d you like an all expenses paid holiday for the next few years?’.

To which he probably replied, ‘Er, ah, sounds fine to me…oh, by the way, what’s a holiday?’.

If you feel I’m being a tad harsh on the leader of the Free World (a world that’s more freer for some than others), then please watch this cringeworthy YouTube clip.

To my Democrat and Republican friends in the US, their president is a source of chronic embarrassment…not amusement.

Every time we chat and the conversation turns to the White House’s latest occupant, they feel this compulsion to apologise. How did it get this bad? What did we do to deserve a choice between Trump and Biden?

Time for a little introspection.

The people are the ones who created a system that enable this mediocrity to flourish.

How so?

Scottish Judge Advocate, Alexander Fraser Tytler, made this profound observation on the cycle of democracy more than 200 years ago…

‘A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world’s greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.’

Here’s my rough timeline on how US democracy has moved through the various stages of the cycle…

1. From spiritual faith to great courage; from courage to liberty

This was the first half of the 20^th century. Going through two world wars and emerging with its independence and the freedom that comes from being the world’s policeman.

2. From liberty to abundance

Post-Second World War — the period when Americans generated and shared in the gains from genuine economic productivity. Growing families. Suburban developments. Homes with white goods and an automobile in the garage.

3. From abundance to selfishness

The financialisation of the US economy began in the early 1980s. The wealth divide between the ‘haves and have nots’ started to open up. Self-interest took hold. Epitomised by Wall Street’s creed of greed is good.

4. From selfishness to apathy; from apathy to dependence

Since the GFC, workforce participation has declined. The post-Second World War spirit of productivity — borne from society being lifted higher in the ‘liberty to abundance’ period — was gone.

In 2008, that post-Second World War generation and their offspring (boomers) were old and getting older. The drive and motivation to ‘Make America Great Again’ was not there in sufficient numbers. A mindset of state-sponsored dependency has taken hold. Wall Street is dependent upon the Fed propping up overvalued markets and zombie corporations. Whenever the Fed even hints at backing off, the market throws a tantrum. Main Street wants more handouts — rent relief, unemployment compensation, homeowner assistance, nutritional assistance, etc. The entitlement mindset has become ingrained at all levels of society.

The US labour force participation rate tells the story of the US’ journey through the stages of liberty and abundance to dependence:

Which brings us to the final stage of the cycle…

5. From dependence back into bondage

Thanks to big tech censorship, freedom of speech is under threat, the media — for the most part — is the propaganda arm of the left (imagine the field day the press would have with Trump if he stumbled, bumbled, and mumbled like Biden?), Christian teaching, symbols and traditions are attacked, history is being rewritten…little by little, the bonds of conformity are being tightened. Dare try and push back against the left’s vision of society and you’ll be vilified by the faceless trolls and haters.

Biden lacks the cognitive power to know which day of the week it is, let alone be the left’s field marshal in its war against common sense and genuine democracy.

Joe was the buffoon needed to keep the cycle turning…giving the oh-so woke Vice President Kamala Harris the time to settle into her role of spearheading the bondage and submission campaign.

Harris’s platitudes of ‘Truth, Justice, and the American Way’ drip with insincerity…listening to her delivering motherhood statements in such syrupy tones brings on waves of nausea. 

Joe could be ceremoniously wheeled off prior to the 2024 presidential election. Filling the void would be his wokest of woke deputy…Kamala.

It’s quite possible she could be the longest-serving US president in history…a year or two in this cycle, PLUS a further two four-year terms as president.

Given where we’re at in the cycle of democracy, it’s perfect timing for the leader of the ailing and failing Democratic world to be a champion of all the bats**t crazy leftie causes…especially Modern Monetary Theory.

Joe’s use-by date is fast approaching. He’s an embarrassment who has served his purpose…now he’s surplus to requirements. The exit plans have been drawn up…it just depends on how big and how often the gaffes are before they decide to act.

We only have ourselves to blame for this sorry state of affairs…remember, ‘the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy’.

A future built on apathy, dependence, and bondage is going to be vastly different to a past shaped by courage, liberty, and abundance.

There will be implications for markets and international relations.

To appreciate how far Western Democracy has moved away from common sense values and principles, take the time to listen to this Fox News interview with Hungarian Prime Minister Viktor Orbán.

Compare Viktor Orbán’s straightforward communicating style to Kamala Harris’s nauseating waffle and you’ll realise just how far the cycle of democracy has turned…for the worse. 

On a brighter note, things have turned for the better for subscribers of Ryan and Murray’s Australian Small-Cap Investigator.

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To find out more on Australian Small-Cap Investigator and the opportunities Ryan and Murray have identified, please go here.

Regards,

Vern Gowdie,
Editor, The Rum Rebellion

Vern is also the Editor of The Gowdie Letter and The Gowdie Advisory — investment services designed to help everyday Australians avoid the financial pitfalls of a volatile economy and make informed decisions to grow their wealth for generations to come.