Hard to believe. The stock market doesn’t seem fazed by the storms on the East Coast, despite the wind-caused destruction, flooding, even deaths. We don’t even want to see what the analysts are saying about this. Do people actually believe that destruction of property breeds prosperity?
Why, yes, they do. It’s called the perpetual motion machine. Or the Broken Window Fallacy. You don’t have to produce anything new, just destroy something and rebuild it – that will create jobs, right? Wrong, as this YouTube video clearly shows! A great comment a few months back mentioned this idea, but it’s time to bring it back.
It is this kind of skewed and wrong thinking that has current administration spokespeople talking about the economy-boosting effects of unemployment checks and food stamps, stimulus programs and repairing infrastructure.
Yeah, that’s the ticket. The more people we have sitting around picking up checks and free food the richer we all will be! Does that make sense to you? Inspired by their own brilliance, these government spending promoters go on to talk about “investments” in education and training and home loans, as if going into debt to go to school or buy a house builds wealth.
Sure, the people handing out the money and standing in front of the classroom have jobs, but once the money has been either devalued or taxed away from the producing sector, you have actually made the country poorer. You have diminished its actual, real-time wealth.
The country will die. It will soon be pushing up the daisies. It will be no more…