Democrats on the Verge of a Nervous Breakdown

No, like a good Time mag boy, Halperin is simply kicking the can down the road, when the reasons for the Democratic breakdown are infinitely more serious, starting with this little tidbit -- Keynesian economics is dead. Giving away money as the route to political success or attempted social justice just isn't going to work anymore, because there isn't any money to give away. And it's only going to get worse as the population ages. The whole justification for the Democratic Party -- the welfare state -- is one giant Ponzi scheme that makes Madoff seem like a piker.

And everybody knows it. All across the world, from Portugal to Japan, the system is in free fall. And the only thing that could possibly save it (and even that may not be able to ) is the free market, because the bigger things are, the less socialism (hard or soft) is likely to succeed. In fact, its principles, like them or not, only lead us, slowly or quickly, back to the old Soviet Union.

Talk about reasons for an ataque de nervios. How about a full bore psychotic break?

The Democratic Party will have to reinvent itself or become a major instrument of American, even global, decline.