Pensamento do dia

Was it Ronald Reagan who said of the Soviet Union, that it was on the "wrong side of history?" The derelict Bolsheviks were definitely on the wrong side of history in 1989. We knew it. They knew it. It was such a glaring problem; they had no choice. Their economy was imploding - thanks to rigid central planning. They gave up and switched sides.

But now it's the US that is on the wrong side of history. Like the Soviet Union, it tries to impose its will, by force, on Afghanistan. Like the Soviet Union, it has too many expenses and not enough income. And like the Soviet Union, it tries to impose its will on the domestic economy too - by central planning. Not exactly in the heavy-handed fashion of the old apparatchiks... This is post-Berlin Wall central planning. Collectivism with a clown face.

Bill Bonner, in The Daily Reckoning