From the St. Louis Federal Reserve 1910 - 2010
And here is a close-up since we abandoned the gold standard:
.png)
This money creation is a reckless ignoring of the fact that paper money is not wealth. Only production creates wealth. Not the government. Not the Fed.
Yet, this country's producers are being hobbled by regulations and taxes which discourage innovation, risk taking, and job creation at the same time ours savings are begin eroded by inflationary increases in the money supply. Government spending continues to sky-rocket--and remember:
Governments only consume wealth; they do not produce it.
If the government was not inflating away the value of our savings, there would be little need for massive entitlement programs like Medicare and Social Security.
Oh wait--if there were not massive entitlement programs like Social Security and Medicare, the government wouldn't have to inflate our money.
More info:
Medicare + Social Security = 1/3 of federal spending.
Though this 1/3 is only now. Just wait until more people retire:
Or looked at another way:
So--do we vote in people who will keep promising everything to everybody?
Or is it time to vote for representatives who will cut spending by paring government back to its essential, proper (and Constitutional) limits?
Tuesday.
November 2.
Your choice.
.
2 comments:
There are so many people dependent on government money that it's not likely voters will go along with any cuts unless they can be convinced that in the long run they will be better off. I would like to believe that they are rational enough to see what is in their best interests but progressive ed has so concrete-bounded their minds that they are blind to the fact that the welfare state is unsustainable. The next two years will be real interesting.
Hi Mike,
Thanks for commenting. Sure hope you are wrong that people can't see how destructive the bloated welfare state is! You are right the next few years will be interesting.
Post a Comment