Posted on 03/27/2020 9:00:54 AM PDT by Alex Baker
Governments can create money, but creating money does not create wealth. Wealth comes from productivity. Putting ink on small pieces of paper does not make wealth. You can visualize this fact quite easily. Imagine that our government officials keep businesses closed "to protect us from the virus," but they send everyone large checks every month. Our benevolent leaders made sure we had lots of money, so we are all taken care of, right? Without productive people, the true engine of wealth, Atlas would shrug, and the world would fall into its natural state, which is poverty. Anything that destroys productivity also destroys prosperity. That is why socialism has never worked and never will. The socialist utopian delusion is that people like Bernie and Alexandria Ocasio-Cortez can manage taxing and spending in such a way that everything people really need will be free. Alarming numbers of young people have this delusion. Unless you are new to this planet, or are blind to reality, you understand that government bureaucracies are an inefficient and expensive way to provide anything.
(Excerpt) Read more at americanthinker.com ...
President Trump understands that America's productive engine needs to be switched on as soon as possible. That will help, but the debt explosion and the increasing dependence on government are much more dangerous to our Republic than the Wuhan virus.
My observation is that this is over after the peak in April. But Drudge and others will continue to push the fear headlines. Like US tops China. Troops are infected. So people are going to be in denial and pushing the fear for a little while yet.
America’s biggest problem is the political left.
Period.
And their media minions
Nancy Pelousy?...................
I used to worry about deficit spending, but I finally came to the realization that nothing would be done about it until we truly ran out of money. Any politician that tries to cut spending will loose reelection and be replaced by a big spender. Until the end is reached.
People want lower government spending, until it comes time to cut their pet programs.
In the last 1.5 hours I’ve gone by two large local hospitals emergency rooms in Houston. Nothing is going on. Empty.
True. And the reality is that the Federal government can never truly “run out of money”, since the Fed can purchase as much debt as necessary AND ultimately any profits realized by the Fed get sent back to the Treasury dept. The only real enemy for this whole central bank schema is inflation. Some people argue that debt-to-GDP ratios are something to worry about, but Japan has had a huge debt-to-GDP ration for white awhile and is still just cruising along as if nothing is wrong.
I had to take DrudgeReport out of my bookmarks. It was just too crazy.
Democrats ,all of them are the biggest problem
Maybe a good outcome from the pandemic will be that young people will come to understand that wealth does not equal money. Having a million dollars is worthless if there is nothing to buy.
I do see plenty of businesses coming up with alternative ways to function. For example, I am getting emails about crafts to do at home, from stores offering a service where you can order materials from the craft store, go to the store and call them and they will put your purchase right in the trunk, no human contact required. Our local vet has a similar arrangement, where staff will go to your car and get your pet for its exam, rather than having you come in and encounter other people. Etc. The longer this goes on, the more ways people will find to adapt.
Since this is a cold virus, the numbers might start to drop as we approach summer. However, the Southern Hemisphere is entering winter, creating the ideal environment for the pandemic to propagate. Research is on-going; hopefully by the time next winter rolls around, we'll have some effective treatments.
Actually, I consider them one and the same ... but thanks for responding to my post.
Excellent article!
Thanks for posting.
Absolutely right! Well said! Too bad the folks out there would never understand it.
Not as succinct but with a sharper point:
"America’s biggest problem is that the political right seems unable or unwilling to restrain the growth of the political left."
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.