Doug Casey on the Coming Collapse of the World’s Biggest Economy

Nick Giambruno: The entire European Union is looking shakier by the day. Donald Trump’s victory – which shocked Europe’s political and media elite – gives Eurosceptic parties, the Continent’s populists, even more political rocket fuel. What’s your take?
Doug Casey: The Social Democratic, Christian Democratic, Socialist, Communist, and similar parties have ruled Europe since the end of World War 2. They’re all pretty similar in that they promote massive welfare benefits, strong labor unions, large state bureaucracies, very high taxes, strict regulations, and an atmosphere of Cultural Marxism. Then, every few generations, the voters react and install a ‘fascist’ regime. These keep most of the socialist characteristics, but tend to be supported by, and friendly to, Big Business. That, and they add on nationalism, xenophobia, and militarism.
The last time this happened was in the 1930s. In those days it was spurred by the Great Depression. This time it will be spurred by the Greater Depression, plus massive waves of Muslim migrants from the Near East and Africa. So I expect to see more neo-fascist political parties everywhere.
Oddly, the Europeans can’t seem to imagine a libertarian alternative of private charities, limited government, minimal taxes, an unregulated economy, and intellectual/psychological freedom. It’s another reason the Continent is a sinking ship.

This post was published at International Man