“This was written over 200 years ago, when the 13 colonies were still a part of Great Britain, about the fall of the Athenian Republic over 2000 years earlier. A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasury. From that moment on the majority always votes for the candidate promising the most money from the public treasury, with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world?s great civilizations has been 200 years. These nations have progressed through the following sequence; from bondage to spiritual faith, from spiritual faith to great courage, from courage to liberty, from liberty to abundance, from abundance to selfishness, from selfishness to complacency, from complacency to apathy, from apathy to dependency, and from dependency back to bondage.
Where are we folks? We are on the downward cycle.”