Charles Hugh Smith: Anticipating the Devolution of Big Government

From Zero Hedge:

With the US elections approaching next week, as well as the threat of another fiscal cliff showdown looming, we look at how the expansive Central State has come to dominate both private society (i.e., the community) and the marketplace, to the detriment of the nation’s social and economic stability. We examine six critical dynamics that will lead to the devolution of Peak Government.

Massive Borrowing
Institutionalized Mal-Investment
Erosion of Trust in Government
Diminishing Returns on Public Debt
The Hidden Tax of Inflation and the Institutionalization of Falsification
Self-Reinforcing Feedback Loops of Self-Interest

"Governments, desperate for more revenues, ignore public resentment and loss of trust, which only deepens the disconnect between those in government and the public.  And the private citizenry sees a lack of accountability, soaring public debt, accounting trickery, political dysfunction, and mal-investment of public funds as the hallmarks of their government."

http://www.zerohedge.com/news/2012-10-30/anticipating-devolution-big-government