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Hello Reader, What I'm Watching
Democracy's Existential ThreatBut I'm especially tracking France, where Emanual Macron's surrendering his signature pension reform—raising retirement age from 62 to 64—to avoid his government's collapse, the fourth in under a year. He's capitulating to Socialist demands (never a good idea) after ramming the law through using constitutional override powers. France joins Italy and Spain in retreating from pension reforms under political pressure, exposing democracy's core failure: funding promises to current voters without bankrupting the next generation. American and European governments believed that they could always afford to support the poor and the needy: widows, orphans, the old and homeless, disadvantaged minorities, unwed mothers. Their sociologists expounded the theory that hardship and failure were due not to the individual person's character, but to flaws in the economic system. So charity became "entitlement," and the stigma of living on charity disappeared. Unfortunately, welfare costs grew faster than the government's ability to raise taxes to pay for it. The political cost of tax increases is high. Governments took the easy way out by borrowing to give higher benefits to the current generation of voters, instead of building up reserves for the next. Eventually, this led to budget deficits, high inflation, and unemployment.
In Singapore, we made the opposite choice. We insisted that we could only spend what we had earned. We had to maintain a hard-working, thrifty, and resilient people, and to do that, we made welfare a dirty word. Each generation had to build for the next, and we made sure our reserves were not squandered. The result was that when a crisis came, we had something to fall back on. We avoided the debilitating dependency culture that had sapped the vitality of many developed societies.
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Editor of Dispatches from the Rebellion — a weekly newsletter covering freedom movements around the world. After 25 years in IT, I’ve dedicated my life to telling the stories of those risking everything for freedom. Each issue delivers sharp global updates, threats to American democracy, and profiles of the heroes fighting back. If you believe freedom is worth fighting for — you're in the right place.
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