Breaking Serf

There's a place where the light won't find you
Holding hands while the walls come tumbling down
When they do I'll be right behind you
--Tears for Fears

Personal 'fast market' today, but wanted to post a thought running thru my crowded keppe about last night's election. Was surprised by the number of voters 'in the middle' who voted to re-elect this president despite his poor record on the economy and no credible economic plan going forward.

The truth underlying the 47% notion is revealing itself. We saw it reflected in the political ads. Easily three quarters of all Obama ads in the last month suggeted either that a Romney presidency would remove some entitlements, or that an Obama presidency would preserve or produce entitlements.

Then we saw it reflected in the vote.

As dependency grows with government capacity to fill that dependency, democratic elections become the means for obtaining economic resources on the backs of others. With dependents capturing majority status, hard not to wonder whether we're passing the tipping point where the system starts consuming itself.

When electoral paths are paved with bread and circuses, there can be little doubt about where the paths lead.