econ

The Age of Fiscal Excess (Financial Times, Editorial)

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This hits harder than most care to admit. Democracy, at scale, really has become a contest of who can bribe the most voters using borrowed money — and slap a noble label on it after. Whether it's handouts, military budgets, or "stimulus packages," it's all just different flavors of the same fiscal sugar high.

The saddest part? The public cheers it on, as long as the check clears. And when the debt bomb finally explodes, the people who lit the fuse will already be retired... or dead... or giving TED Talks.

Escaping? I wish I had an answer. Every country’s either a circus or a museum. Some just serve better wine while the ship sinks.