It won’t be long before governments around the world, including the one in Washington, self-destruct.

Strong words, but anything less would be naïve.

On July 30, Yellow, one of the oldest and largest trucking businesses in the United States, ceased operations and moved to declare bankruptcy. According to reports, the final nail in the coffin of the ninety-nine-year-old business was a labor dispute with the Teamsters Union.

America’s federally sanctioned entitlement programs, Medicare, Medicaid, and Social Security, each face bankruptcy in the next few years. Medicare and Medicaid were created in 1965 as part of President Lyndon Johnson’s Great Society legislation. Social Security was created in 1935 to provide retirement income for Americans who reached the age of sixty-five.

Some analysts contend that size can be a deterrent to economic prosperity, so as a result, small states are particularly vulnerable to economic and environmental shocks. Usually, small states are discussed in light of their limitations and challenges. Even leaders of small countries earnestly paint size as an obstacle to future progress. The idea that smallness is an impediment to be overcome has become gospel in some quarters.

Now available from the Spring 2023 issue of the Quarterly Journal of Austrian Economics: 

Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative.1
– NASSIM TALEB