Jan 18, 2014 11:00
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Comments 22
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It's just I kinda feel a yes vote is throwing our southern Comrades under the bus.
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1. We may never be able to make financial crashes go away entirely, but it's still good to make them less frequent and less bad, eg. by removing the incentive on banks to turn risks into larger risks by gambling heavily and relying on someone else to pick up the mess.
2. There is a natural boom and bust cycle, and the classic Keynsian idea is to damp it out by storing grain in the good years (by taxing heavily and building infrastructure, etc), and spending in the bad years. But we would ideally do that IN ADVANCE, not just only after a crisis.
3. However, whether or not we do #1 and #2, it would still be better to have a sensible response to a crisis.
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And okay the plan was turn on the printing presses and lets print our way out of trouble on our credit cards. But hey. It was a plan. And it was better than nothing.
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Bubble and crashes Just Happen, and that's all there is to it. Keeping crooks from bleeding the country? What's that, and what does it have to do with anything?
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