Socialism does not work. Fascism, being a variant of socialism and kissing cousin of communism, does not work either. All seek to enforce government direction of the economy and use of resources, rather than direction by the consumer, which is the rightful sovereign of the marketplace. We need not fret over whether or not the present system is broken. It most definitely is, and has been for some time. It will not work because such schemes have never worked. History has taught us this. Any scheme that seeks to replace socialism with more socialism will not work either. We do not need to worry about that. No further scheming and conniving acts of Congress, the President, the Treasury, the FED, or any other worldly power, can produce a tenable, permanent arrangement. The world was not built to sustain socialism. It will eventually wither and die. Only systems which recognize certain basic ethical principles may flourish in this world, and this is by design. These principles are categorically denied by socialism. The principles cannot perish; socialism will. Always. Which brings us to our last, and our very best, reason to be hopeful. God Is In Charge The single biggest lesson that we can learn from this is that God and his universal laws are in full force, that they are unbreakable, and non-negotiable. No contrivance of man can overcome, circumvent, or overwhelm what He has designed. None. We may know with confidence that whatever may be obtained within the bounds of His laws cannot possibly be against His will, and ought not to be overturned by the hand of man. This is the basic ethic of a free nation, and is rightfully respected by decent men. The converse we may also know: that whatever is against His will must also be against His laws, and cannot stand for long. We are tempted to despair by what we see in the marketplace, but make no mistake: what we are witnessing is actually a very powerful display of righteous forces wreaking havoc on a vile and evil system. As Gary North has pointed out, this crisis is Adam Smith's "invisible hand" dealing a powerful, possibly fatal, blow to central banking and a fiat currency regime, which is a system founded on theft, fraud, and coercion for the purpose of accumulation and centralization of power. A free nation has no use for such a thing. It is an abomination. Good riddance. If we find ourselves cheering on Ben Bernanke and the FED as they struggle to "save" the banking system, we should probably ask ourselves just whose side we are on, anyway. We should not lament the end of the present system. We should celebrate its demise. What will replace it? We do not know. It will probably be even worse. But the present one will be gone, or at least severely weakened, and this will be a mighty testament to His eternal, universal sovereignty, though few may recognize it. As much as it will impact our way of life, those of us who choose the side of liberty should recognize this as A Good Thing. Conclusion We really should not beat ourselves up too much over the present failure. We like to think of ourselves manning some last desperate rampart, fending off the forces of tyranny against all odds to the bitter end. This is not particularly realistic. The reality is that the walls were breached long ago. The battle has already been lost. The FED is almost a century old. So is the income tax. Social security is not much younger. The Constitution has been in tatters for ages. America has been in a long, slow slide for quite some time, and, truthfully, the West's New Dark Age has been a work-in-progress for quite a while now. The 20th century did not just see man land on the moon and the invention of the iPod. It was also a period of mass slaughter on a scale never before imagined. How easily we forget these things. But despair is the opposite faith. There are things larger than America, and larger battles to be fought. We ought to choose the banner we will fight behind wisely, for though we may suffer or even perish, if we have chosen the proper side, we cannot possibly be defeated; we can be certain Who is destined for victory. I think I will leave the final conclusion to a fellow Austrian:
"This would be a terrible world if socialism worked. Fortunately, it does not work." -Leonard E. Read, Foundation for Economic Education, as relayed by Gary North
A friend once asked how I could be so cheerful while America rots from within and endures attack from without. Others have wondered how I can be so personally optimistic even as I morbidly chronicle one debacle after another in this column and on my blog. The answer is that despite my love for America and my passionate allegiance to the ideas upon which it was constructed, I know that its fate is immaterial. Our country, our homes and even our lives are all things of shadow which will one day disappear in the light of the glory of Jesus Christ.-Vox Day "The King of Christmas 2008"