Election Promises are Mostly About Spending Other People’s Money

To all the voters out there. Be reminded that there is nothing called as a “free lunch”. Every scarce resources expended or consumed will have to be worked and paid for. What always seems free, someone will have to shoulder the cost.

Elections have mostly been predicated on promises, particularly noble sounding promises backed by the spending of other people’s money.

It’s important for the public to know and understand of the behavioral difference of how money is spent.

The distinguished free market economist Milton Friedman explains in the following video

Yet the easiest thing to do is to spend other’s peoples money. That's the expertise of political agents. But there will always be a price paid for this.

The following quote from the legendary investor Jim Rogers on the Fed’s policies embodies such dynamic:

If You Give Me A Trillion Dollars I'll Show You A Good Time