11 votes

Great "Peter Schiff Report" On Detroit, Ben Bernanke's Congressional Testimony, ACA

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The problem is Democracy

The central problem with Detroit is that it was run as a Democracy, majority rule. When the majority realizes, and acts on that realization that it can vote for benefits from the public treasury, it results in failure of the treasury. The producers leave and sooner or later they run out of other peoples money. Detroit went John Gault.

Here is his newer video

Just as good 8-2-13 :)


Tu ne cede malis.

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