"If you live in Canada, you should be aware that there is a serious proposal to establish a universal basic income. Drop the cynicism for a minute and just imagine if we let ourselves have nice things."

— CautionWIP

Some think that if the government gives money to the people, then things will get better. They are well-meaning but they are wrong. For things to get better, we first need to determine what got things wrong. And the answer is too much government spending. So more government spending won't help. It will actually make things worse.

You're being robbed every day

Why are people hurting?

The chart below shows the official purchasing power of the US dollar referenced to January 1st, 2000.

A dollar earned at the beginning of the year 2000 is now only able to buy you 54.5 cents worth of goods. Any savings you built between the year 2000 and now, have been rendered useless by the relentless devaluation of the US dollar.

Has your salary increased by 84% since the year 2000? If it hasn't, then your ability to buy goods has actually gone done. Your financial status has gotten worst.

All your hustle, all those long days and hard work you put in to get that promotion, to get that coveted salary increase. All that work, was erased by the government, taken away from you though the silent yet relentless debasement of the US dollar.

The US government made sure that you worked hard for nothing. And if your salary increase was below 84%, then the government made you work for an effective salary reduction.

I arrived to the US in July of 2007 with a startup. I worked really, really hard, traveled 100 days a year, hustled and bustled until our startup got acquired by a big company. And then I kept working equally hard in this bigger company. All to bring stability to my family. A home. Financial security. The possibility of paying for college education for my kids.

Yet again, when I compare my salary when I first arrived here and I look at my salary now. I need to factor in the fact that $1.00 from July 1st, 2007 is now worth 67.1 cents. That means that my salary had to go up by 49% just to keep up with the debasement. All my hard work, taken away by greedy politicians who only know how to spend other people's money.

The constant debasement of the US dollar is the reason why people are hurting. You need to increase your salary by anywhere between 50% and 85% JUST to maintain your economic status in this country.

This is the reason why people can't afford a house, rent, food. This is the reason why we have so many homeless in the country. The reason why there is no middle class any more.

Why is the government debasing the US dollar

So why is the government doing this? Why are they debasing the purchasing power of the US dollar?

They do it because they like to spend more than what they collect in taxes. This gap translates into a deficit and the deficit translates into money printing. Every time that the government adds more money to the economy, it is diluting the purchasing power of the money that is already in the economy. They know it. And they track it. That's why there is an official chart like the one I showed you above.

Politicians promise you to manipulate the market to lower your costs and then they turn around and spend more to get your vote, knowing that this is what will actually impoverish you.

They also say that a 2% inflation rate is good or to put it bluntly: "Robbing you little by little is good".

That is the real gaslighting happening in this country today.

Spending less and letting the markets work is the solution

Spending more to pay a basic income to all citizens is not going to help. It's going to have the opposite effect by adding more debt and triggering the printing of more money.

What we need is to stop debasing money. We need for the government to spend less so that it can actually pull dollars out of the economy and increase our purchasing power. We need at the very least for the government to stop debasing the money any further.

Because once people feel comfortable saving, they will start investing, growing the economy, improving their financial prospects and once again, making the American dream a reality. We all want to improve our prospects. We just need a level playing field. A field where you don't get automatically and systematically rugged by your own government, doing things for your own good.

Notable notes

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— Alejandro

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