Our historic president has reached another historic milestone. America — once the world’s beacon of liberty — has dropped to an appalling 18th place in the ranking of economic freedom:
The annual Economic Freedom of the World report, released Tuesday, has Canada tied in fifth place with Australia — up one spot from last year. Hong Kong remains at the top, Singapore’s next, then New Zealand.
Meanwhile, the United States, once a “standard bearer” of economic liberty among industrial nations, spiralled 10 spots from the 2011 rankings to 18th place — its lowest position ever, and a huge drop from its second place spot in 2000.
As history has taught us repeatedly, without economic freedom, there is no sustainable freedom, because the population is at the mercy of the government. There is also no wealth, which is why Americans’ wealth contracted by a catastrophic 40% in just three years under the government-bloating statists Bush II and Obama.
Without economic freedom, there is no future. But at least we have lots of Hope & Change.
On a tip from Ghost of FA Hayek.