Yes, this idiot and the LA Times claim that everyone could have a pony if we breed enough ponies.
This is further evidence of why the Party of the Jackass and Liberals everywhere need to be politically marginalized. They actually believe in this stupidity.
The Liberal Progressive ideology requires ignorance of history, human psychology and economics in order to promote its failed Marxist Centralized thinking ideology.
People do not Government in order to live. People only need limited Government that defends its borders and enforces our laws. In liberal loony land, Government should provide everything so that her citizens can..... grow fat and lazy.
Congress can give every American a pony (if it breeds enough ponies)
........
But what if I told you that your intuition was all wrong? What if it turned out that the government really could give everyone a pony — and a chicken and car? That is, so long as we could breed enough ponies and chickens and manufacture enough cars. The cars and the food have to come from somewhere; the money is conjured out of thin air, more or less.
.........
In other words, the government spends money and then collects some money back as people pay their taxes and buy bonds. Spending precedes taxing and borrowing – STAB. It takes votes and vocal interest groups, not tax revenue, to start the ball rolling.
Whoa, cowboy! Are you telling me that the government can just make money appear out of nowhere, like magic? Absolutely. Congress has special powers: It’s the patent-holder on the U.S. dollar. No one else is legally allowed to create it. This means that Congress can always afford the pony because it can always create the money to pay for it.
Now, that doesn’t mean the government can buy absolutely anything it wants in absolutely any quantity at absolutely any speed. (Say, a pony for each of the 320 million men, women and children in the United States, by tomorrow.) That’s because our economy has internal limits. If the government tries to buy too much of something, it will drive up prices as the economy struggles to keep up with the demand. Inflation can spiral out of control. There are plenty of ways for the government to get a handle on inflation, though. For example, it can take money out of the economy through taxation.....
http://www.latimes.com/opinion/op-ed/la-oe-kelton-pony-for-all-20170929-story.html
This is further evidence of why the Party of the Jackass and Liberals everywhere need to be politically marginalized. They actually believe in this stupidity.
The Liberal Progressive ideology requires ignorance of history, human psychology and economics in order to promote its failed Marxist Centralized thinking ideology.
People do not Government in order to live. People only need limited Government that defends its borders and enforces our laws. In liberal loony land, Government should provide everything so that her citizens can..... grow fat and lazy.
Congress can give every American a pony (if it breeds enough ponies)
........
But what if I told you that your intuition was all wrong? What if it turned out that the government really could give everyone a pony — and a chicken and car? That is, so long as we could breed enough ponies and chickens and manufacture enough cars. The cars and the food have to come from somewhere; the money is conjured out of thin air, more or less.
.........
In other words, the government spends money and then collects some money back as people pay their taxes and buy bonds. Spending precedes taxing and borrowing – STAB. It takes votes and vocal interest groups, not tax revenue, to start the ball rolling.
Whoa, cowboy! Are you telling me that the government can just make money appear out of nowhere, like magic? Absolutely. Congress has special powers: It’s the patent-holder on the U.S. dollar. No one else is legally allowed to create it. This means that Congress can always afford the pony because it can always create the money to pay for it.
Now, that doesn’t mean the government can buy absolutely anything it wants in absolutely any quantity at absolutely any speed. (Say, a pony for each of the 320 million men, women and children in the United States, by tomorrow.) That’s because our economy has internal limits. If the government tries to buy too much of something, it will drive up prices as the economy struggles to keep up with the demand. Inflation can spiral out of control. There are plenty of ways for the government to get a handle on inflation, though. For example, it can take money out of the economy through taxation.....
http://www.latimes.com/opinion/op-ed/la-oe-kelton-pony-for-all-20170929-story.html