“Mitt Romney proposes sending $1,000 checks to every American to ease coronavirus economic pain”… [from CNBC]
Well of course he does. Romney is on a never-ending campaign to be liked by MSNBC, CNN, and Hollywood/Manhattan leftist elites. He will never be one of them, but they will fawn over him when it suits their fancy. John McCain 2.0.
The serious question: How can transferring money from one part of the economy — actually, stealing it — and giving it to another part of the economy, actually make “the economy” better? All you’re doing is impoverishing one group for the sake of enriching another. This is the question free market economists have been asking for nearly a century.
However, the question is a bit dated in one respect. We no longer even transfer money. Yes, we tax people, but government spending (even pre-coronavirus) way, way, way outstrips what even a thriving, booming economy could ever bring in. We simply make the debt bigger. It doesn’t take an economist to figure this out. And most economists simply evade the question, because they’re “in” with the government and our whole Establishment.
Even if this largely media-driven Biblical catastrophe ends in a couple of weeks — which it won’t, not if the media doesn’t want it to — the debt will be so high that we will finally find out what unsustainable debt actually means. I don’t think any economist knows, but we will be the generation to find out, it now looks like.
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