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To: SGJ who wrote (153236)	2/1/2021 9:55:48 AM
From: yard_man	2 Recommendations Recommended By Hawkmoon Lee Lichterman III Read Replies (1) \| Respond to of 219180

it's not the capital markets -- I'm not expecting them to be of moral excellence ... but parenthetically -- there is something that is moral about capitalism in general -- at least what it allows. Try not to be so cynical? I had specific reference to government continually borrowing increasing amounts of money and increasing debt in the absence of an "military" emergency. That is what I referred to immoral. It is immoral because it is theft ... and it is never done for equality ... for the common good ... it is always about wealth transfer. Even early in our history -- when such was done for military purposes ... it was always to enrich the select few who had the ability to satisfy needs for various goods. To quote Lennon -- "you may say I'm a dreamer ..." -- in the ideal world -- there would be no government debt at all. Governments would provide the functions they provide from tax revenues -- when they were out of revenues -- that would be all the services they could provide -- period. I can feel folks reacting to such a crazy idea -- what about such and such a need -- what about this -- what about that ... What they don't get is how much more wealthy each individual would be and able to take care of their own needs -- even the ones with the most lowly jobs -- if the currency weren't continually debased -- could save something for future needs and perhaps acquire a small amount of capital. So that's a cockamamie crazy idea in this world we find ourselves in -- however, everyone -- and I do mean everyone's welfare would be benefitted to the extent that we could move closer to that crazy ideal -- no deficit spending and a truly steady monetary supply. Near term pain would be forgotten in long term gains. Every time the government thinks it can do economic calculation -- what is better for folks -- than individuals expressing their preferences in a market place -- everyone is going to wind up poorer to some extent and those at the low end always seem to suffer the most for it.