>I'd certainly consider a central bank that deliberately pumps and dumps the economy around it to be morally wrong. OK, so it sounds like this isn't really a d

>I'd certainly consider a central bank that deliberately pumps and dumps the economy around it to be morally wrong. OK, so it sounds like this isn't really a debate anymore. This has the same coordination problem that the climate scientists "making it up" would have. If you understand how the system works, there already are checks and balances on that. We have democratic oversight of the financial industry, as it is regulated in the way an elected government has chosen to regulate it. You're throwing out a lot of buzzwords but nothing that actually points to a solution. For example, "an international clampdown on corporate tax avoidance." Well, that's fine, but you seem to be suggesting implicitly that there is a very clear moral case that corporations should always pay domestic taxes on income earned abroad... which most countries actually don't do. So that's why some companies invert. But is there anything morally wrong about this? I don't actually know and you probably don't either. Also, you seem to be suggesting that stable, long-term businesses are capital constrained, which just makes it incredibly clear to me you don't actually look at data and see what those companies are doing from a capital allocation perspective. Those are the types of businesses that literally have too much cash to know what to do with, other than, you know, shore up their balance sheets after this really bad balance sheet recession we just had.