The Spanish monarchy suffered a decline in the late 16th century due to overspending on its military. They financed their militarism with the riches they plundered from the Aztecs and Incas, but even with all that largess they still spent beyond their means, leading to a series of bankruptcies. Once the treasure from Central America dried up, they resorted to raising taxes which retarded economic growth and brought about their downfall. The US government should beware, as they have a military budget larger than the next several closest countries combined. History repeats itself, and when it doesn’t it at least rhymes.
Learn more about the history of Western Civilization at Liberty Classroom.
Give your children the education you wish you had gotten with the self-taught Ron Paul Homeschool Curriculum.