you know it's always sad yet immensely comical when the people that are running things just do not understand economics today we've got some breaking news uh President Biden is going to forgive $5 billion in additional student uh loan debt cancellation for 74,000 borrowers that comes to almost $68,000 per person on the average now this isn't something new uh this is here's October 4th of 2023 and there he was announcing then an additional 9 billion but the total back then was 127 billion for nearly 3.6


million Americans so what they just announced today gets added to that now I want to know where do I sign up for this what line do I get into so that a bank can uh you know with the government's authorization and guarantee can create a whole B borrow into existence a whole bunch of free currency for me and that free currency is is empty currency that gets its purchasing power by stealing it from all the existing units of currency causing prices to rise and that is a wealth transfer for from everybody else


to me and then uh the president comes along and magnanimously decides that I don't have to pay that back so it's free currency for me but a bank created it not me so and not the president so uh the bank doesn't just magically forgive this loan no where how does it get paid back it gets paid back through your taxes so it was uh I want to know how I sign up for this what line do I get into so that you can give me uh $68,000 I this is just totally insane uh and I want to uh remind everybody of


some words from the great Thomas so economics and politics must both deal with a basic fact of life what everybody wants adds up to more than what is possible economics deals with this by rationing through prices politics deals with it by lying and promising more than it can possibly deliver so buy one beer for the price of two and receive the second beer absolutely free I want to thank you for watching