“Can the private sector innovate and create wealth faster than governments and central banks destroy it?”

Although it seems a perfectly obvious question to ask, it’s relatively startling to see it in black and white and to read it on the written page.

This is the battle we’re faced with. This is the battle we’ve been fighting ever since the 2008 decision to waste our money by bailing out GM, IAG and all the big banks instead of letting them take their lumps in the market place. Since then annual drollops of quantitative easing have added shame to suffering every year.

Today the national debt stands north of $17 trillion and we add to it daily. There is no opportunity to turn this around, it can’t be ignored and sooner or later … we will pay the piper. That will be a bloody day because government spending and pensions will come to an abrupt halt, And you know what that means … there’ll be no more low level government functionaries to insult you.

I don’t know about you, but when they shut the government down, I didn’t miss a damned thing.

A headline on Drudge (Washington Scrambles to Provide Food, Clothing to Illegals Streaming Across Border) and the linked-to article in Reuters highlights our government’s ‘drunken sailor’ spending proclivities. We are still throwing around money like it was made out of paper.

Article here …

(John Mauldin of Mauldin Economics asked this question at their 2014 Strategic Events conference.)

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