From Bill Bonner, Chairman, Bonner & Partners:
The inability of democratic assemblies to carry out what seems to be a clear mandate of the people will inevitably cause dissatisfaction with democratic institutions. Parliaments come to be regarded as ineffective “talking shops,” unable or incompetent to carry out the tasks for which they have been chosen. The conviction grows that if efficient planning is to be done, the direction must be “taken out of politics” and placed in the hands of experts – permanent officials or independent autonomous bodies.
— Friedrich Hayek
AIKEN, South Carolina – Last night, we sat on the porch of the old Willcox Hotel.
The sky was clear. The temperature was perfect.
The sun sank in the West… just as it should.
But today, we’re leaving town. Saying goodbye to Aiken.
Probably not a moment too soon. We’ve heard the local sheriff has collected a posse…