Quote of the Day: The Fourth Turning Has Arrived

An impasse over the federal budget reaches a stalemate. The president and Congress both refuse to back down, triggering a near-total government shutdown. The president declares emergency powers. Congress rescinds his authority. Dollar and bond prices plummet. The president threatens to stop Social Security checks. Congress refuses to raise the debt ceiling. Default looms. Wall Street panics.

– From The Fourth Turning by William Strauss and Neil Howe published in 1997

I have covered the incredibly prescient book “The Fourth Turning” for many, many years now. I had forgotten about the above quote, which is extraordinarily timely given what is happening at the moment. Like many Americans, up until now I have considered the current government shutdown and potential debt ceiling breach as importantly politically, but not likely to catalyze the ultimate financial chaos we all know is coming. Perhaps I need to revisit that thesis…

Thanks to Blacklisted News and Daniel Taylor for reminding me of this quote.

In Liberty,
Mike

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6 thoughts on “Quote of the Day: The Fourth Turning Has Arrived”

  1. The debt limit debate is a sham. We have been borowing 40 % of what we spend for a long time. Were we to pay down this dept with ALL tax revenues we still would not be able to pay it off. There are only 2 solutions, devaluation or default!

    Reply
  2. i actually read this book from recommendation off another site, but you are right; we may be going thru this right now. of course, i’m still skepticl that the money powers will let the US default, they do not want to give up any of the power or lifestyles they have; but this president just may be the marxist that some portray and taking over the US as he sees fit may be what he wants. still skeptical, but i am ready to react at a moments notice and stay out of the way as much as possible if he choioses financial destruction.

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    • Obaaamaaa is a script reader. Nothing more. He’s like a ventriloquist dummy. You make the dummy say and do whatever you want. Why anyone mentions “Obaaamaaa” in any sentence relating to what he will or will not do is implying he has a choice in the matter. He doesn’t and it’s totally stupid to imply a ventriloquist dummy can make it’s own choice.

  3. All this default rhetoric is just political theater. The realization for me came when Boehner said, “it’s not some damn game.” It IS just a game for them. These public squabbles could be construed as some diversionary tactic – more likely the symptom of a diversionary lifestyle where reality is systematically ignored.

    If negotiation theory teaches us anything, this contest will go up to the 11th hour (again) and hike some ratings for major media outlets. In the end, nothing changes.

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  4. i saw your post… and i own this book (we spoke a year ago on bloomberg about Warren Buffett btw)… i pulled out my book and found a page that i’d earmarked:

    i folded the page for something that resonated with me.. page 258:

    “What makes a Crisis special is the public’s willingess to let leaders lead even when they falter and to let authorities be authoritative even when they make mistakes. Amid this civic solidarity, mediocre leaders can gain immense popular following; bad policies can be made to work (or, at least, be perceived as working); and, as at Pearl Harbor, even a spectacular failure does not undermine public support.”

    incredible reading – written in 1997

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  5. A different perspective:
    MAJORITY RULE & budget key point: ObamaCare

    –polls show, needless to say, that about 85% of ‘We the People’ want a balanced budget. The Dem’s haven’t passed ANY budget in 5 years thus allowing for unrestrained, undisciplined spending.

    –an AP poll showed that 75% of ‘We the People’ did NOT want ObamaCare. The ‘Big Brother’ Dem’s passed it anyway behind closed doors (“They’ll get to see it after WE pass it.”).

    –various polls (ABC, CNN, Fox, NBC, USA, Rassmussen) STILL show that the distinct majority of ‘We the People’ do NOT want ObamaCare.
    The Dem’s are insistent upon jamming this down our throats anyway.

    –the Dem’s, despite our form of government, which relies on compromise, have openly and childishly declared that THEY will not negotiate….that what THEY want trumps what ‘We the People’ want.
    If THEY say….WE are merely to obey.

    And, of course, they’re being entirely deceitful in promoting this and employing deceptive name-calling to protect it.
    (calling those who protest “Tea Party extremists”…in other words, ‘Constitutionalists’…reveals the intent of their propaganda )

    THIS is what may be seen as the crux of this impasse:
    whether the obnoxious left, lead by dictatorial socialists and supported by anti-Constitutionalists, is to be allowed to DICTATE the course of our nation without ANY restraints….

    or whether We the People are still to have some input.

    Reply

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