God forbid my generation gets ahead.
Ladies & gentlemen, boys and girls, I give you Default Keynesian 101. Today’s “economists” demonize my fellow millennials’ practice of fiscal responsibility.
As @CitizenBitcoin has beautifully memed into existence, we are all Keynesians now. By default, this is the stauts quo: Don’t save your money. Spend it. Move it. Invest it in the markets to keep it up to speed with inflation. Do it. Now. Chase that yield, son!
It’s a miracle my generation can express financial-sovereignty at the apex of student loan debt/deceitful market signals. God forbid they enjoy the fruits of their hard-earned labor & actually get to retire before their parents…and grandparents for that matter.
Yet, we get shafted via inflation, and paying off the debts of irresponsible generations before us. After all, who’s gonna pay for THEIR retirement? Social security? I won’t see a single fiat cent of that. A mortgage? What on Earth is a mortgage?!
Saving allows for future prosperity when times are rough. It’s millennials who seem to be the ones that are most prepared for economic uncertainty in the perhaps near-distant future. Why should we be penalized for responsible behavior?
The state simply hates you. It does not trust that you know what to appropriately do with your money. It thinks you’re stupid, yet also is terrified of your economic success because it thrives from stealing from the private sector. The state is a parasite, and we are its host.
As Saifedein Ammous says, “fiat money, fiat life.” Or maybe not verbatim, but manipulation of price signals encourages the mis-allocation of resources. Ergo: bubbles in the stock market, housing market, student loans, health care, and the list goes on and on. All thanks, to soft monetary policy.
The only loser here is the Fed, and envious, privileged, and indoctrinated generations from a cynical, jaded, wrinkled, fiat era. Those who are closest to the money supply don’t suffer from the detriment of inflation via the Cantillon effect.
The only cure for this this toxic, monetary/fiscal chaos is sound money.