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>>> For another it consumes more than a third of all production >This is often a positive. >In times of financial panic Do you mean, for example, the credit cr
by IG_Semmelweiss 1y ago
>>> For another it consumes more than a third of all production
>This is often a positive.
>In times of financial panic
Do you mean, for example, the credit crisis of 2008 ? That crisis that was actively encouraged by the US govt, that poured the gasoline with govt loan guarantees, insane macroeconomic policy and low interest rates ?
Are we saying we want to pay for arsonists, to work as firefighters ?
- mullingitover 1y agoI just finished reading Devil Take the Hindmost: A History of Financial Speculation. It didn't even get to the 2008 GFC, but it covered many other bubbles. The market almost always uses the government to inflate their bubbles by giving stock to officials and other various schemes. The answer isn't to not have a government, it's even tighter regulation (which, since that requires the existing batch of officials to make less money on speculation themselves, is difficult to pull off).