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Monday, 20 January 2014

Reckless Government Spending

In 1950, Ludwig von Mises wrote,
Nearly all governments are now committed to reckless spending, and finance their deficits by issuing additional quantities of unredeemable paper money and by boundless credit expansion.
Here we are some 64 years later (almost three generations) and governments are more committed than ever in doing exactly that. People are truly their own worst enemy.