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This comment describes a moral judgement about consumerism, and maybe that’s perfectly reasonable, but it doesn’t relate to issues around the productive use of
by AmericanChopper 4y ago
This comment describes a moral judgement about consumerism, and maybe that’s perfectly reasonable, but it doesn’t relate to issues around the productive use of capital.
- taeric 4y agoNot what I meant, amusingly. I seriously meant it as a question of what you think they should do? Funding consumers is somewhat fine, as far as money making goes. But our rules are made to drive to outcomes we want. So, what do we want banks doing?
- AmericanChopper 4y agoI don’t presume to know what’s best for other parties to do with their capital. I think the kind of central planning you’re alluding to only produces bad outcomes for everybody involved. My only point is that the risk of capital controlled by billionaires being withdrawn from productive use basically doesn’t exist.
- taeric 4y agoI'm not aiming at Central planning any more than anyone else here. My question isn't a moral based one, either. I don't like credit cards for reasons, but I am not saying they should be outlawed, either. Same for mortgages. My question is specifically what use do you want banks making of deposits? That is better than having active participation in investments?