Taxes and Spending

We’re in a terminal debt spiral. The only question is how long it will last until the patient succumbs.

To cut taxes without cutting spending means greater burdens on the private sector through more government borrowing, higher indirect taxes, and monetary pumping which will come in the future. 

President López Obrador of Mexico has surprisingly been a voice of fiscal sanity, refusing to embrace the sorts of enormous stimulus packages that are now so popular worldwide.

Since government creates nothing itself, all interventions are nothing more than transfers of wealth for the benefit of some and the destruction of wealth for everyone else.

Over time, the demand for reparations has evolved from a demand to compensate specific victims to became just another call for more funding from a national welfare state.

The “cure” to the current crisis that is forced upon all Europeans now is not just worse than the disease; it is the disease.

As 20 million Americans fall into unemployment, no crisis is so big that anyone in Washington would think of cutting military spending, including dollars spent on military gear for cops.

The “cure” to the current crisis that is forced upon all Europeans now is not just worse than the disease; it is the disease.

Debt matters, even if interest rates are low. Increasing debt and spending means lower growth and weaker real wages in the future.

If there is a new dawn, it is for the Sinicization of Europe—China-style stimulus administered alongside a severely ailing financial system kept whole by widespread financial and monetary repression.