THE RULES.

    1) There are no Democrat numbers or Republican numbers, only the factual bottom line.

        2) Reality is. You can face it or you can evade it, but it’s still going be there—no matter how many people you may convince differently.

        3) You can’t spend more than you take in, not forever. Deficits can be covered by spending savings, by borrowing, or by putting off creditors. Sooner or later the bills must be paid.

      4) Money comes from somewhere. Governments can tax it, borrow it, or print it out of thin air. Each way has costs. Devaluing currency costs least in the short run, most in the medium and long.

      5) SUPPLY = DEMAND balanced by PRICE   is an economic law, no less concrete than the law of gravity, and just as dangerous to ignore.

      6) An economy is an ecosystem, not a machine. It’s dynamic, ruled by the Law of Unintended Consequences, easy to mess up, tough to re-balance, and the best thing is often just to leave it alone and let it heal itself.

   7) Capital is mobile. Human capital is the most valuable capital of all.

   8) When you rob Peter to pay Paul, Paul never complains. But Peter always gets the last word.

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