“Like an improvident spendthrift whose pressing occasions will not allow him to wait for the regular payment of his revenue, the state is in constant practice of borrowing of its own factors and agents, and of paying interest for the use of its own money.”
~Adam Smith (1723-1790) ~
Old Adam Smith “nailed it” over 250 years ago, didn’t he?
And the reason this is so true today is because most of our “representatives” in Congress are liars lawyers.
They don’t understand the business cycle and how it affects our economy.
They don’t recognize that business cycles are NOT altered by the fundamentals. Instead they try to use fundamentals to explain the cycles.
It doesn’t work.
Example: The recent sharp decline in asset allocation to equities has not been met with a collapse in market prices. (read about it HERE)
The Boyz in DC play a game of tag-team with the Wall Street “Club Members” to try and convince you why their policies – making new laws – help you in the long run.
Nothing could be further from the truth.
Their answer to problems (like regulation changes from the 2008 meltdown) consistently make things worse and set the stage for the next crisis down the road.
The classic example is the pension crisis in America.
After 2008 our “representatives” lowered interest rates thinking it would stimulate the economy. They somehow forgot that pensions (especially government ones) need a 7-8% rate of return to meet their obligations.
Most pensions are required to buy bonds. As a result, low interest rates have backfired and crippled most pensions.
That’s why lawyers should NOT be in charge of investments.
And, not only did these fools sell at the bottom, they’ve missed the most hated bull market in history.
America’s pension crisis will hit full force like a thief in the night.
Even if you don’t have a government pension, don’t think for a moment that you won’t be affected when this reality hits home.
Why do you think the Presstitutes are bombarding you with so many distractions (Cough! CoronaFraud, Election Fraud, Cough! BLM/Antifa, The Great Reset, Hairball Cough!)?
Are you Connecting the Dots yet?
Go ahead… click the link and find out.
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