Reading stories of long ago people and places you quickly realize that history really does repeat itself. And, it doesn’t take long reading ancient history to see our current national crises mirrored in the story of the fall of ancient Rome.
During its heyday, Rome was connected by webs of elaborate aqueducts and roads, spectacular infrastructure projects reflecting a creeping trend of government primacy and intervention. Government built hundreds of swimming pools and public baths, fountains and libraries. The government of Rome oversaw a public works extravaganza.
But, with government growth and expansion the Romans set the plans in motion for their eventual downfall. With government spending came interest rates and a devalued currency. A wheat subsidy was created, then wheat was dumped onto the market. Then came a welfare system and food stamps. Price and wage controls were tried, but failed.
Rome’s government brought commerce and industry to its knees with confiscatory taxation and choking regulation.
The Romans didn’t have a Federal Reserve to print their way out of problems, but they increased their money supply by adding copper to the silver in coins. The amount of silver and number of coins varied according to how the state was doing. The value of the denarius sank lower and lower.
Rome, with its economy wrecked and social structure in moral tatters, was eventually invaded by barbarian terrorists who infiltrated the government and sealed its fate of decline and destruction. The question now is, will history repeat itself?
There is little doubt the plans have been set in motion for the decline and destruction of the United States as we know it. Government spending is on an unsustainable trajectory threatening nothing short of fiscal suicide. Will it continue? Will the dollar go the way of the denarius? Will Americans go the way of the Romans? It’s up to us to decide.
When in Rome, what would Paul Ryan do? Watch Ryan’s Path to Prosperity. Watch it, then send it to your friends. And remember, we are already in Rome – let’s not do what the Romans did.