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Yes no moral hazard. Sure. That’s why China has the most distorted property market in the world creating ghost cities. Are we actually at the point where Chines
by alchemist1e9 4y ago
Yes no moral hazard. Sure. That’s why China has the most distorted property market in the world creating ghost cities. Are we actually at the point where Chinese absurd practices are talked about as something to emulate? What did you mean by this comment?
- narrator 4y agoThe creation of money should be a government function though. The weird hybrid system we have where we privatize the gains and socialize the loses is what causes these kinds of disruptions. With how much control China exercises over the banks, it is essentially almost a government function. I would be for getting rid of bank money creation. It just makes too many problems and creates the boom bust cycle.
- alchemist1e9 4y agoOr how about we remove governments from money business and move to private currency. It’s looking more and more likely we are headed in that direction.