1850-something

Vizigoth sends us this article about economic parasitism and value creation. This is the "take-away," as they say in the seminars:

"That sets the stage for a titanic political battle--one that could trigger a constitutional crisis--between the parasitic aristocracy, the dependent class and the two classes creating value with their labor."

The Constitution will take only so much of that parasitic drain before triggering a crisis. This is by design; very, very smart men wrote that document -- much smarter than anyone in Washington today. It is, in fact, exactly what happened in 1861: obscenely wealthy northern industrialists controlled the politicians, who had spent the previous 20 years generating ever more onerous and heavy-handed legislation that forced the southern landowners to sell them raw materials at below-market prices. Effectively, Congress was practicing second-order fascism in order to create monopolies for the people who lined their pockets -- up to and including blockades of southern ports. When the southern landholders (those would be the high value producers) had enough of that rubbish, they triggered a Constitutional revolt.

But it was all about freeing slaves. No, really. Talk to any vacuum-skulled young liberal fresh out of university and they'll tell you The Truth. They learned all about it in their cultural studies and diversity classes. And they're much, much smarter than you. Just ask them.

Those who fail to learn from history...

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Hat-tip to Vizigoth