Some here think we’re borrowing the Trillion or so that the stimulus bill mandates. Wrong. China is already balking at funding us for this. What to do now? Why, we’ll just print the dollars for ourselves. This, of course will bring economic disaster to our future. Remember Argentina? In the 1930’s Argentina was the 5th wealthiest nation in the world. Then came Juan Peron, the charismatic politician who sought a “Third Way” between capitalism and socialism and who promised “social justice” and “social aid.” He fulfilled those promises in spades. In doing so, indebted his country by gigantically increasing the money debt for his socialist projects. The echoes of that debt and reckless spending led to economic crisis 40 years later. Now, instead of being one of the most prosperous countries in the world, today 1 in 5 Argentinians live in dire poverty. And the import of this is that, by printing money to fund the new administration’s wasteful programs, Argentina foreshadows what’s in store for our future. Don’t cry for our children, America.
