Monthly Archives: December 2015

The Gap illustrated

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The credit theory wormhole

I just saw it again, the myth that all dollars are lent into existence by banks. According to this myth, the U.S. government borrows all its spending dollars. Likewise, dollars that are used to pay federal taxes are also borrowed … Continue reading

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Collective suicide

Many Americans cope with their misery by pretending to be one of the rich, contemptuously looking down at the other peasants beside them. One way they do this is by echoing things like, “You are entitled to nothing,” which translates … Continue reading

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Oh me oh Maya

Rodger asks if people like Maya MacGuineas are ignorant or dishonest. I say dishonest, because Ms. MacGuineas would have to admit that the U.S. government can “print” all the dollars it needs, and therefore has no “debt crisis.” Nor is … Continue reading

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False premises

I was going to discuss the recent Pew report about the vanishing middle class, but Rodger beat me to it. So today’s topic is this… When you start with a false premise, you will inevitably commit errors that will compound … Continue reading

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The madness of the Big Lie

The Big Lie is that a money creator (e.g. the U.S. government) is the same as a money user (e.g. you and me). From this lie sprout numerous other lies, such as the lie that money is limited, that the … Continue reading

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On ignorance

Senator Ted Cruz has introduced legislation to give governors the ability to opt out of refugee resettlement programs. That’s comical, since immigration issues are exclusively under federal jurisdiction. Can you imagine if, during World War II, a leftist presidential candidate … Continue reading

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