Countries all over the world have privatized national assets for eons. The U.K. has sold off all sorts of assets, like its rail, electric and aerospace industries. China has been selling off tons of once-government-owned enterprises for years. In 2012 alone, China sold an estimated $4 trillion in state-owned assets. Debt-addled Greece is trying to sell off everything from water companies to its national lottery – and if its European Union partner Germany has its way, Greece will even sell some of its islands for much-needed cash. Knowing this, does the U.S. selling off Yosemite National Park during desperate times sound so far-fetched? Make no mistake: The U.S. is headed down a similar path to Detroit. The D.C. politicians have shown neither the collective sense nor spine to balance the federal budget and curtail profligate spending. Both D.C. and Detroit have long been run by dysfunctional, often-corrupt lawmakers who are in business for themselves rather than the constituents they ostensibly serve. They knowingly throw the country into hock because it’s in the best interests of the deep-pocketed, narrow constituency that keeps them in office. One day, probably not too far down the road, Sotheby’s may set up a yard sale on the front lawn of the Capitol building – taking bids on American treasures. Sadly, the fate befalling the Detroit Institute of Art offers a depressing glimpse into our national future.
Posted on: Sat, 10 Aug 2013 03:29:36 +0000
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