by Gary Christenson, Deviant Investor:
Most normal individuals believe these basic truths:
We cannot borrow our way out of debt.
We cannot spend our way into prosperity.
We cannot tax ourselves into wealth.
More specific versions of these essential truths are:
We can’t fix an excessive debt problem with more debt.
We can’t support a larger and increasingly more expensive government with a decreasing work force.
Paper money always returns to its intrinsic value – zero.
Or, as Ayn Rand said two generations ago, “We can ignore reality but we can’t ignore the consequences of ignoring reality.”
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