Most normal individuals believe these basic truths.

We cannot borrow our way out of debt.

We cannot spend our way into prosperity.

We cannot tax ourselves into wealth.

More specific versions of these essential truths are:

We can’t fix an excessive debt problem with more debt.

We can’t support a larger and increasingly more expensive government with a decreasing work force.

Paper money always returns to its intrinsic value – zero.

Or, as Ayn Rand said two generations ago, “We can ignore reality but we can’t ignore the consequences of ignoring reality.”

Now look at some Basic Charts!  Monthly S&P 500 Index since 1996:

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