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Guest Post: Decline And Fall Of The New Rome

Tyler Durden's picture




 

Submitted by Luke Eastwood

Decline And Fall Of The New Rome

Rampant inflation, caused by debasement of the currency, government corruption and nanny state corrective action that makes matters worse. Declining trade, caused by wars to control the empire, massive military over-reach and ever increasing spending on the military – funded by increases in taxation on the citizens, especially those least in a position to pay.

Sounds familiar? The above, paragraph describes not our present day society but that of the Roman Empire from the 3rd century onwards. However, one could be forgiven for thinking I was describing the faltering western economies of America, Japan and Europe.

The similarities between the declining ancient Roman empire and current Western empire are quite striking. Not only are the same mistakes being made by our rulers, but the symbolism and structure of our governments differs remarkably little from that of Rome. Just take a look at the White House, the US Senate building, the Bank of England etc – it’s no coincidence that they are all built in the Roman style.

Just as the Romans debased their silver denarius from 95% in the time of Augustus, by the end of the empire it was as low as 0.2% silver. Right now western governments are involved in a devaluation war, which ultimately will lead to hyper-inflation – just as it did throughout the Roman empire.
Attempts to sure-up the economy of the empire all failed – e.g. reforms by Constantine and Diocletian failed, just as the inept efforts of our current political class are failing pitifully.

For those that could afford gold coins instead of dealing in token coinage (i.e. debased silver coins) they had real buying power and the ability to fulfil their imperial tax obligations. Unfortunately the poorer citizens were often unable to pay their taxes, due to rampant inflation, which meant they had to forfeit their property instead.

Of course as the costs of running a huge military to control a vast and unruly empire increased so too did the taxes. Over time huge numbers became delinquents or just simply disappeared and even the once wealthy classes became severely pressured.

Finally, only the genuinely rich and those employed by the government, such as soldiers and bureaucrats had any real spending power – the vast mass of the population became increasingly hard pressed and the fabric of the empire began to break apart.

Does that ring any bells? Of course, in this current climate of political indifference and incompetence it is the ordinary taxpaying citizens of Europe, Japan and America that are paying for big government, a corrupt and insulated financial sector and especially the imperial overreach of the (supposedly) ex-imperial powers within NATO.

Just as Rome did not collapse overnight, the American/Japanese/European axis is not collapsing overnight. However, what is clear is that history is repeating itself – the Western economies are doomed to fail if they are not radically reformed.

Just like in Rome, corruption in all of these governments is endemic and expecting reform is rather like expecting a judge to order his own execution for obstruction of justice. So what we can expect is a gradual and inexorable decline and fall; the only real matter for discussion is how long will it take this time around?

 

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Sun, 04/07/2013 - 13:31 | 3418737 it aint paranoi...
it aint paranoia if they really are out too harm you's picture

You do have a good point here. Barbarians "sacking Rome" will be a nothing compared to the potential for THIS societal collapse.

How many of those apocalptic novels base their story on WW III/ Nuclear War?  Your point, if this time I understand correctly, is much more likely- multiple Fukushima/ Maconda events occurring over time due to a lack of ability to maintain the complex infrastructure required to maintain these sites.

"it will proceed at light speed next to the decline of the Roman empire"- and we will all winess it happen on the 24-7-365 news and internet.

As an aside, I'm not sure the elites cutting the internet or news feeds in a crisis will calm things down or worsen them... people might then believe the events occurring are worse than reality if we are thrown into a vacuum of information.

 

Sun, 04/07/2013 - 13:14 | 3418690 B2u
B2u's picture

History DOES repeat itself.  Deja vu all over aagain.

Sun, 04/07/2013 - 16:03 | 3419207 Keynesian Mess
Keynesian Mess's picture

But...but...but...they promised me that this time it's different.

They can't be lying......right?

Uh-oh.

Sun, 04/07/2013 - 13:19 | 3418701 forrestdweller
forrestdweller's picture

we will all go down together.

whoehoohoohoo.

Sun, 04/07/2013 - 13:54 | 3418791 Bearwagon
Bearwagon's picture

Some of us will go downer.

Sun, 04/07/2013 - 16:40 | 3419310 Herdee
Herdee's picture

Maybe Canadians should cross the border and head south in order to burn down the WhiteHouse for the second time.

Sun, 04/07/2013 - 19:51 | 3420066 MeelionDollerBogus
MeelionDollerBogus's picture

more hand-outs?

Dude, first one was free.

Sun, 04/07/2013 - 16:39 | 3419311 Catequil
Catequil's picture

I'd like to point out that there is one noteable difference between Roman Empire and Western civilization, and that is the information and legions traveled weeks and months in ancient times. IMHO, this difference is not changing the final outcome now as compared to then, it will only serve as an amplifier to the speed and severity of final meltdown.

Sun, 04/07/2013 - 19:33 | 3420005 MeelionDollerBogus
MeelionDollerBogus's picture

hahaha a constitutional republic! Get what you asked for. Rome was, USA is, and both shall see their downfall.

Should have picked a free-market with strong democracy (direct representation, voting on all matters, as is each market-transaction so don't say it can't be done due to logistics).

Sun, 04/07/2013 - 23:24 | 3420702 steve from virginia
steve from virginia's picture

 

 

One of the most stupid articles ever on ZeroHedge.

 

Maybe the author will read a book about the Roman Empire before making remarks the next time.

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