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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Oblomov who wrote (89921)	11/7/2008 1:21:09 PM
From: Sea Otter	Respond to of 116555

We're closer in views than I thought.

To: Oblomov who wrote (89921)	11/7/2008 1:45:21 PM
From: benwood	Respond to of 116555

"...but it has the effect of reducing the incentive of productive people to keep producing." I agree with that sentiment for many things, but not health care. The young often ignore health care and take bigger risks (e.g. skateboard off a high wall) because they do not believe it can/will happen to them. So that disconnect means there's no link (for the majority, esp. those under 40 or 50) to productive employment. But the reality of the past 25 years has showed declining work ethic (machine-assisted productivity gains notwithstanding), e.g. the influx of 'others' to do menial work, etc. THIS, I believe, has not been a product of liberalism nor conservatism, but DEBT. The debt bubble has masked all sorts of destructive behaviors, including the one where we need to produce in order to prosper. The debt bubble has ballooned as our job exports ballooned, a recipe for the disaster that is currently unfolding.