Home > Miscellaneous Musings, Predictions > There is no free lunch

There is no free lunch

Sometimes the Telegraph gets it right.

But let’s not get too carried away here. To think that central bank
money-printing offers a largely pain-free way out of our economic difficulties
is sadly deluded. Carried to extremes, it ends in hyper-inflation, and in any
case, in an era of low growth and the progressive loss of Western employment to
technology and foreign competition, it does nothing for living standards. Wages
may lag prices for years to come. Friedman offers some plausible solutions, but
even he cannot magic away the consequences of years spent living high on the
hog. One way or another, a price has to be paid.

A price has to be paid – but it’s never the bankers or the government unions.  It’s always the pleb workers and the “market” that has to pay.

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