“People call this the ‘new normal.’ Let me assure you there is nothing normal about this at all. It’s the new ‘abnormal,’ and it won’t last, because as free people we won’t stand for it…”
With those remarks, business magnate and former presidential candidate Steve Forbes drew thunderous applause from his audience.
It was October of 2012, about 2 weeks before our last presidential election. Forbes was speaking to a crowd of 10,000 in the comforts of a beautiful indoor sporting area (the “Idaho Center”). He was headlining the “Power Up!” business and motivational seminar with Sarah Palin, Rudy Giuliani, and Zig Ziglar protégé Krish Dhanam (fyi-we need more native-born Americans to understand American liberty as well as this guy from India named “Krish” understands it).
Forbes had just finished explaining why a confluence of cheap credit, billions of dollars in stimulus spending, lots of new taxes on “rich people,” and a growing-by-the-second government debt have all failed to stimulate our economy. He was confirming with his technical explanation, what many of us instinctively know in our hearts: the reality that no organization- no individual or family, no business, no government – can spend its way out of debt and re-distribute its way to prosperity.
We should all hope that Forbes will be proven right – that, eventually, “as free people, we won’t stand for it.” Because in the election that occurred two weeks after Forbes’ speech, Americans didn’t merely “stand for it” - we asked for more of “it.”
Yet here is our reality: if Americans continue to vote (either blindly or intentionally) for politicians who viciously take expanding portions of wealth away from our society’s producers, and then selfishly redistribute that wealth to the people of their choosing, eventually the producers will stop producing as much wealth, the politicians will run out of other’s people’s money to redistribute, and we will all suffer the consequences.
The social disorder and collapse of Greece and Spain could be our future in the U.S., if, “as free people,” we don’t choose more wisely.
For those who have eyes to see and ears to hear, examples abound in this present day of how not to construct a national economy. Greece and Spain qualify, yes, and so does Venezuela. And within the last few months the news from France, another bureaucratic, debt-laden, and not-so-free-anymore part of the world, should be a wake-up call to Americans, as well.
Austin Hill is an Author, Consultant, and Host of "Austin Hill's Big World of Small Business," a syndicated talk show about small business ownership and entrepreneurship. He is Co-Author of the new release "The Virtues Of Capitalism: A Moral Case For Free Markets." , Author of "White House Confidential: The Little Book Of Weird Presidential History," and a frequent guest host for Washington, DC's 105.9 WMAL Talk Radio.
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