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Free Money Leaves Everyone Poorer

BALTIMORE – A dear reader reminded us of the comment, supposedly made by Groucho Marx: “A free lunch? You can’t afford a free lunch.”

Groucho-Marx_Groucho dispensing valuable advice     Photo via imdb.com

He was responding to last week’s Diary about the national referendum in Switzerland on Saturday. Voters will decide whether to give all Swiss residents a free lunch – a guaranteed annual income of about $30,000 a year [ed note: the initiative was overwhelmingly rejected with 78% voting against].

The problem with a guaranteed income (you get it no matter whether you have a job or not) is something we’ve been writing about for the last 15 years. It is the problem with all frauds… all cockamamie, jackass redistribution programs… and all something-for-nothing schemes.

And it is the same whether you are “stimulating” an economy with artificial, phony-baloney “money”, giving aid to foreign dictators, or handing out free lunches to voters at home.

The Deep State, in addition to being malignant and entertaining, is incompetent. It fights wars just to lose them. It solves problems and makes them worse. Led by the Yellen Fed, it “improves” the economy and leaves 9 out of 10 people poorer than they were before.

Today, we turn to a special war – the War on Poverty. Jesus dismissed it. “The poor you will always have with you,”he said. But that didn’t stop the feds from launching an attack.

 

1-BG-war-on-poverty-50-years-chart-2-825The “war on poverty” has been just as rousing a success as the “war on drugs”.  According to the NCPA is has actually cost $22 trillion so far (estimates of the total cost differ) – click to enlarge.

Fortunately, they are so clumsy, lame, and incompetent, they spare us a worse disaster. Had they been smarter and better organized, they would have done even more damage.

…click on the above link to read the rest of the article…

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