Guys, understand something. There is no debt. There is no spending. There is no tax revenue.
When the Fed can QE 23% of GDP over 5 years, what possible further meaning can money have?
And no, this is not about gold or a gold standard. That’s all silliness too.
The only point is Conservatism can have no meaning if it is focused on money flow, because money itself no longer has meaning. The ECB this very moment is creating a trillion Euros for this year from thin air with a wave of the hand. Just like the Fed did over the past 7 or so.
We have to pretend, yes, because that’s how you buy food. But always keep in mind that money as a substance doesn’t reflect GDP, Gold, weapons or anything else. It is created by whim by a bunch of central bankers.
So don’t imagine any moral truths or political ideology is are in any way profound as regards anything to do with it.
Good post on QE. At this point taxation is pointless—really just a method of controlling the populace and training them to obey.
QE destroys all standard economic theory—except that it is guaranteed long term ruin for any civilization that adopts it in large measure.