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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (122678)	5/17/2010 7:24:16 PM
From: Skeeter Bug	Respond to of 132070

and germany may well have been doing grand in 1915 - how did that work out? comparisons are a moot point right now given the collapse is near.

To: Freedom Fighter who wrote (122678)	5/18/2010 4:32:43 AM
From: GuinnessGuy	Read Replies (1) \| Respond to of 132070

FF, you wrote- "Real economic progress comes mostly from savings and investment not wealth transfers, wars, and consumption." Your postings here often make some sense but that one has me confused. Are you talking globally, or in some national sense? Seems to me that real wealth is created by innovation and/or perhaps exploitation of raw materials in new lands...which in turn feed the requirements of innovation. If everyone saved(to the extent of providing themselves with basic food clothing and shelter), there wouldn't be much of an economy...at least in terms of growth. As far as larger government you need as large of the same in order to keep the semi-monopolist capitalists reined in. The last thing you want is for private business to make the rules. I think Adam Smith said that, and I believe him. craig