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TopAustrianFool (69.19)

December 2012

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The Fiscal Cliff is Good for the Economy

December 04, 2012 – Comments (2)

The Fiscal Cliff is actually a good thing, because it reduces government outlays, which is money that government takes from the real productive wealth creators in the economy and gives to wealth destructive spenders. Therefore, any GDP shrinking you see is due to the loss of current wealth destructing waste funded by government.So although deflation will ensue sometime in the Spring of Summer, over time this leaves wealth creators with more money and the economy should grow permanent wealth creating jobs that need no subsidies from government.The Fiscal Cliff is a good thing, and it will happen sooner or later.If we don't go over the Fiscal Cliff government outlays will be $3.3T, but if we go over the Cliff the outlays will be $1.7T. President Obama probably wants to the former rather than the latter, so I say call his bluff, grab his hand and depress the accelerator Thelma.

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