As some of you know, I am passionately pro-economic liberty. Government spending requires someone to lose money. Someone loses a buck for every buck the government spends. Every single time. Every. Single. Time. Someone has to pay for our insane budget, whether that someone is our kids, our neighbors or ourselves.
In economics, there’s no such thing as a free lunch. Doesn’t matter if you are throwing a political rock concert. Doesn’t matter if everyone is having a blast and are completely convinced that Big Brother loves them.
The economy operates within reality, and in reality there’s no such thing as a “new” thing. When the government “creates” money, it’s taking wealth from other people through inflation, or taking it outright through taxes.
When the government wastes money (and it always does), it’s literally burning wealth. When you hear of pork spending, think of it in terms of houses being torched, cars smashed, and laptops busted into pieces. That’s what is happening.
Over at Daily Wealth, Porter Stansberry wrote something every American needs to read a few times.
Take a few seconds and go read it. Make sure to email the article to your friends. It’s a hefty, brutal explanation in a no-holds-bar style — and it’s just what we need.