Friday, May 14, 2010

More symptoms - - -

- - - of unsound money:
Our parents were "The Greatest Generation," and they earned that title by making enormous sacrifices and investments to build us a world of abundance. My generation, "The Baby Boomers," turned out to be what the writer Kurt Andersen called "The Grasshopper Generation." We've eaten through all that abundance like hungry locusts. --Op-Ed Columnist Thomas L. Friedman, Root Canal Politics - NYTimes.com
These are just two more symptoms of unsound money. The boomers - - - and everyone in line behind us - - - are just following the incentives implicit in fiat (paper/electronic) money: Because of chronic yearly inflation caused by central bankers and politicians, this kind of "cash is trash" and thus saving is stupid. Our parents on the other hand, behaved in accordance with the incentives implicit in real Constitutional "hard" money (gold and silver) -- which can't be inflated.



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29 Comments:

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3:02 PM  

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