It's poetry in motion
She turned her tender eyes to me
As deep as any ocean
As sweet as any harmony
--Thomas Dolby
The folly of it all. Washington bickers over billion dollar spending bills while the Federal Reserve prints that much in a couple of days and gives it to the banks and other special interests.
A dollar is a claim on production. When the Fed prints those claims, those who get their hands on them first take production from others.
People continue to be blind to the largest wealth transfer in the history of the world.
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Inflation and credit expansion, the preferred methods of present day government openhandedness, do not add anything to the amount of resources available. They make some people more prosperous, but only to the extent that they make others poorer.
~Ludwig von Mises
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