money is worthless, unless it is premised upon a labor market in which the working man is paid fairly for his labor, so that he may acquire goods and services with it. it is the bedrock exchange of values which supports a fee society.
i didn't say a society without strains, or conflicts, or unrest ... i said a free society in which the exchange of values is worked out daily through the market.
government can print all the money it wants to "stimulate" things, but, it stimulates nothing unless supported by labor. no labor, no value, and most certainly, no "value added."
this is why the biden administration dumping 17 or 18 trillion dollars of currency into the money supply immediately upon biden taking office was about as stupid and harmful to an economy as possible. this act, all by itself, fueled inflation ..... it was done purposefully.
john jay @ 06.23.2022
p.s. my favorite history professor in college was frederick breit, a graduate of the university of chicago back when that meant something. his ancestory was german, his country of allegiance acquired very late in the history of his family. his antecedents lived through the german weimar republic, a post wwi government which paved the way for the acquisition of power by adolf hitler via its stupid and misguided economic policies.
as in sri lanka, the weimar first bankrupted the government and then laid waste to the economy of germany. professor breit told stories of family and society rushing home with worthless currency trying to pay the landlords rent, before the currency was once again reduced in value by runaway inflation. perhaps the stories are/were apocryphal, but they related people carrying wheel barrows full of the stuff to pay bills. it got so bad, that the ink of the bills cost more than the "face value" of the currency being printed.
well, we are on the way towards this very situation, as the left rushes headlong into a policy of destroying our industry, both in good made, and in the incentive of people to work for their upkeep by dint of the sweat on their brows.
money paying for nothing (as in layabouts and lazy bastards, to put it bluntly), is worthless. period.
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