David Murrin, a co-founder of Emergent Asset Management, appeared on Squawk Box Europe in March and placed the success of America squarely on the shoulders of the "Tea Party" movement. At the time, he believed that the eastern markets would be the next growth market while Americans become more fearful of the future and look toward collective security over economic growth. This fearfulness is Mr. Murrin's description of a society in decline. Growing societies believe in individuals who take risks in order to reap future rewards.
Economic reality can be harsh. Socialism always fails. We see proof of this in the waving red flags in Greece and during "Global Warming" summits. The red flags are more than a warning signal, they are THE symbol of socialism. Socialism can best be described as slavery to government. Socialist systems breed unhappiness, entitlement, and eventual hate and violence. Americans now work 100 days per year for government which is clearly a violation of our inalienable individual right of our pursuit of happiness.
This violation of our individual rights unmistakably has lead to the following economic warning signs:
- Crude oil prices fall 13% on predictions of a faltering global economy
- Unsustainable government economic policies based upon false political promises
- Unprecedented government debt levels
- Rising interest rate pressures
- Faltering money market liquidity
- High domestic unemployment rates