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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Hawkmoon who wrote (3029)2/19/2001 11:36:38 AM
From: Yorikke  Read Replies (1) of 3536
 
Ron, You seem to be asserting that ALL government expenditure is wasteful. That what is spent on the government budget does not produce 'investment' returns. That somehow the 'Market' ,in its wonderful ways, will just be right. I submit that the pendulum has swung. That this is as Naive an assumption as the other end of the spectrum. There are a vast number of activities that NEED government intervention and control. Why? Because just the idea of common property resources makes it so, let alone the seeking of long term public good, which can quickly be economically discounted by capitalists. (Neither interest rates nor information is a perfect indicator of the future; and thus both are prone to give 'bad decision' guidance.)

I find your assertion that a small percentage of a persons SS taxes should be available for investment in the private sector a reasonable approach. However I feel that there are a vast array of government services and regulatory practices that actually make life better, and contribute the benefit of the private markets. Therefore it is not valid to assert that government debt is not similar to private debt. Both are meant to, and in many cases do, provide much benefit to society. And, both can be misused and misjudged and result in significant waste. Neither sector has a monopoly on success or waste.
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