From the desk of Keith Weiner at Monetary Metals
“As an aside, we feel compelled to say that many lives will be lost by impoverishing people. This is an iron law of economics. There is no way to work around it. If you give them subsidies, you are just taking precious capital from those who are still solvent to feed those who are insolvent and jobless. One needs capital to employ someone, so by depleting the capital of those who are still solvent, the would-be do-gooder government ends up plunging more people into jobless poverty.”
Read it all here.