Stephan Molyneux makes an articulate and convincing argument as to why the West on it's present course has no way out of this economic mess.http://freedomainradio.com/ Molyneux is rated amongst the the top ten most influential people on the alternate media.You can down load this video off his website.

Molyneux argues that social programs are doing the exact opposite of their intended purpose.In the USA $168 per day,per household is spent on social programs which is 20% more than median incomes.

In 1950 85% of men of working age had a job,while today only 65% do.In July 2012 the USA lost 1.2 million jobs and created 847,000 but 73% of these were Govt jobs.The USA has lost 9 million private sector jobs since 2008.

Molyneux has checked this incredible statistic.41% of Americans of working age are not employed or are not looking for work.This is 88 million Americans.

The average Govt sector worker gets 60% more money than the average private sector worker.

US share of global GDP has fallen from 32% in 2001 to 21% in 2011.43% of Americans spend more than they earn.Real inflation is 10% so people have their wages being cut in half every 7 years.

We are going the way of the USA.The only thing that has saved us is a small population and the sale of our resources.China is slowing but also they are securing resources in Africa and South America.

I don't think Australians have the nous or the will to see the dangers and initiate the necessary changes.Our taxes are now used to bribe and seduce us all into crumbling socialist state by both major parties.

While I agree with Molyneux about the impotence of the Socialist State,he thinks that the US Federal Reserve is an arm of the Govt.The US Govt does not share in the profits of the Fed.It is a private banking cartel owned by numerous banking interests.

You & he are probably right Arjay.

I can't remember now who it was that suggested that a democracy was a self destroying thing. Sooner or later the smarties decide to vote for a living, rather than work for it. Human nature being what it is, so many would rather bludge on the rest than work, no matter how much better off they could be working.

We are definitely well down this path, when people expect to be able to live permanently on unemployment benefits, rather than have it tide them over while finding other employment.

It is even more true today, with all the bleeding hearts, do gooders, & academics, wanting to cry all over their chosen people.

I am so sick of hearing about the underprivileged, & the disadvantaged. I would love to take them to PNG, where the only thing the government does for you is send the tax man to your village to collect your head tax. Saves you walking too far.

Funny how an empty belly makes it easier for people to get off their butt.

My reputation may well be in tatters, but in part I agree with arjay.
We are, for the most part, powerless in this matter.
I constantly warn arjay and others, conspiracy's so silly they are laughable, hide real truths.
FEW will understand the truth of about Americas Federal Reserve bank.
Even less, will understand the true history of banking.
EVEN IF you research the subject on line, you will find an awful truth, hiding in plain site, aside conspiracy theory's,that taint the truth.
Capitalism, the only true driver of sustainable humanity, other than Dictatorship is in trouble.
It, by its very nature, is self sustaining, able to regrow after injury.
But this can not be forever.
America, can not pay its debt in the lifetime of your grand childrens grand kids.
Parts of Europe without the harshest of actions, are about to fail.
We, in comparison, are safe.
But in truth we must understand with no need for our exported minerals, we must shrink back to a food providing nation to exist.
Food is the last to fall in value and the one thing a hungrey world demands, but can they pay for it.
This gloomy forecast has a back door,a way out.
Will will see it used, not our great grand kids, maybe us,War changes all things.
War is/was/and will be the prop under a lot of problems and the answer to this trouble, no matter who wins.

I trying to reduce my profile on OLO, as are sult of a few, MUST not let Hasbeen,s words pass without comment.
While we area Capitalist Nation, under both forms of Government we too, are in part Socialist.
IF ONLY, the right, extreme that is Hasbeen,s home, he may not understand but it is truth.
And indeed the bleeding hearted destroyers on the left, could only see a truth.
This country is the birth place of the term fair go mate.
The center will not ever use words like Hasbeens, or thoughts.
But will,and do, demand only the true needy get help change, reform,better out comes for those in need not verbal bashing.
Let us be proud most think like that not Hasbeens kicking the true poor.

Hasbeen and Belly.Look at these stats for Australia.Our Demographics;
24% of our pop is 18 yrs or younger.
19-64 yr old make up 63% of our pop.
65+ yr old make up 13% of our pop.

We have close enough to 23 million people and 11.5 million in our workforce.You only have to work one day per week to be considered employed.

Our workforce potentially 19-64yrs should be 14.5 million.So there is 3 million people at given time of working age who are not working.This means that 20% of our potential working pop is not working,compared to the USA which has 41% not working.

Molyneau argues that in the USA the compliance regulations,legal BS and OH&S are stopping people from opening businesses.The same environment occurs here where there is no incentive to employ people.That's why there are so many sole traders and partenerships.

We cannot keep borrowing money to pay for social security and employ people in cushy jobs in the Public Service.Both Greece and Spain did this and now live in serfdom to the banking system.