Call Me Stormy

Finding righteous currents in turbulent times

Our Coming Economic Collapse

Runaway entitlement programs ensure that a Greek-style economic collapse awaits in our future. It can’t be averted, even if federal taxes are increased to 35 percent of the Gross Domestic Product, up from a current 20 percent of the GDP. Jeffrey Rogers Hummel, a professor of economics at San Jose State University, examines the dynamics propelling us toward the collapse in an interview with Reason‘s Nick Gillespie. “In the short run it’s going to be painful,” says Hummel, “but in the long run, it’ll be a good thing.”

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One thought on “Our Coming Economic Collapse

  1. I think we would be more likely to avoid an economic collapse if taxes were drastically reduced, rather than increased. And in terms of increasing the money supply, that just ensures inflation and will make the economy fall quicker. Higher taxes will also discourage new companies and jobs, adding to the downward spiral.

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