According to
this Wall Street Journal article, the degenerate Brussels authorities are
trying to ensure that those who invest in money market mutual funds will be
guaranteed not to lose money. I.e. everyone will be guaranteed to get X Euros
back for every X Euros put in.
Well that
will make those bureaucrats and politicians popular, won’t it?
Of course it’s
all a nonsense, because as the WSJ rightly points out, there is no such thing
as a risk free investment.
Next thing
those bureaucrats and politicians will be ingratiating themselves with voters
by guaranteeing that no one who invests on the stock exchange will lose money,
and no one buying a house will lose if the value of the house falls. Plus anyone who sets up a business will be guaranteed a profit (at the taxpayers's expense).
Then after
that, they’ll promise the plebs that no one needs to work.
Plato, the
ancient Greek philosopher said that democracy would not work because the people
would vote themselves all sorts of goodies which the country could not afford.
He was either right or very near being right.
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