Thursday, August 20, 2009

Death by Free Lunch

This from Richard Daughty, the Mogambo Guru, who defines Death by Free Lunch as
a fatal condition where idiotic governments in the thrall of mindless ‘gimme gimme’ democracy and ‘gimme gimme’ fascism and ‘gimme gimme’ socialism and ‘gimme gimme’ communism obediently borrow and deficit-spend a fiat money, which is created to monstrous excess by their central banks expressly for this very purpose, to benefit their friends and themselves in the short run, but to the horrible detriment of everybody in the longer run as all this new money percolates through the economy to cause horrendous inflation in consumer prices and in the size of government, and people start screaming in outrage and anger and rioting, not because wolves are literally eating them alive, but because inflation in prices and a bankrupt, ruined economy means that they can’t feed their crying children, and all of that incessant wailing is drilling into my head like an ice-pick jammed through my ear and into my freaking brain, all because of the loathsome Federal Reserve!


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