Thursday, April 28, 2011

Thanks, Ben

The geniuses at the Federal Reserve are quantitatively easing me right out of retirement.
I've never been close to being "rich" even by liberal standards. But I did save some money while I was working because I never believed that Social Security would be around -- and, even if it was, I believed Franklin Roosevelt when he said it wasn't intended to be anyone's sole source of retirement income.
So, I retired.
Now, my pitiful little savings is being whittled away so that the federal government can inflate away its awesome debt.
The theory is that if they take the money out of the private sector, or borrow it, and put it back into the private sector, the economy will improve.
How does that work?
Obviously, no wealth is created with this shuffling of money.
How is wealth created when the government borrows money, hands it out, then must raise taxes to pay back the money with interest?
Jobs and wealth are created when some entrepreneur risks his own money to start a business in hope of making a profit. (Otherwise, he can just put his money in a bank and collect the interest.)
Meanwhile, the federal government is taxing most of my savings directly and stealing the rest indirectly with inflation, and I'm rehearsing: "Hi. Welcome to Wal-mart."
I'm not rehearsing, "Woe is me," however. Work is no big deal. I did it for 50 years and I can do it another 50. Plenty of people are worse off than me.
But no one can convince me that a government of the politicians, by the politicians and for the politicians is either "compassionate" or what the Founding Fathers intended.

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