The Fed and other central banks are entering into a huge money-printing experiment in hopes of keeping the government-spending machine going at full speed forever. The unintended consequences will be highly destructive.
In the wake of the financial crisis of 2008, the Federal Reserve and other central banks around the world adopted new “tools” to influence economic activity in addition to its standard open market operations.
State lawmakers possess an infinite source of good intentions. Wielding the power of this limitless benevolence and munificence, politicians are regulating the lives of citizens while eviscerating their existence in the process.