All politicians not just Bernie fall into this category, as many of you may have figured my politics lean towards a smaller government and state. And I think it worth reminding readers of this blog post that the government can only spend money that it has taken from you in taxes.
With current state of money in Western countries this may no longer seem true. But alas it will bite back in ways that are not obvious. As we inflate the money supply we will in time see price of good rise which errodes the value savings that we have accumulated. Punishing saves who did the right thing.
The pernicious one is moving the debt onto future generations , all the money we borrowed today will have to paid back by future generations. We in turn reduce their ability to afford goods and services as they will have to pay for taxes + debt + interest. Modern Monetary Theory says we owe to ourselves therefore it’s ok to borrow all this money, but we still owe it and still has to be paid.
The current bout of money printing is not going unnoticed gold is reaching all times highs against a large number of currencies and notably today it passed through $2000 USD per Oz.
