So the root problem is the system, human nature, blah blah blah. There are no "solutions" that can fix those defaults. Thus the "solution" is collapse.
Policies create incentives and disincentives. Some are intended, some fall into the category of unintended consequences. Regardless of their intention, policies that create windfalls ("easy money") or open spigots of "free money" (or what is perceived as free money by the recipient) quickly gather the allegiance of everyone reaping the windfall or collecting the free money.
This allegiance is soon tempered into political steel by self-justification: humans excel at rationalizing their self-interest. Thus my share of the swag is soon "absolutely essential."
Humans don't need much incentive to pursue windfalls or free money--seeking windfalls in the here and now is our default setting. Taking the pulpit to denounce humanity's innate greed, avarice and selfishness doesn't change this, as seeking short-term windfalls has offered enormous selective advantages for hundreds of thousands of years.
That which is painful to those collecting free money will be avoided, and that which is easy will be pursued until it's painful. Borrowing $1.5 trillion a year from toddlers and the unborn taxpayers of the future is easy and painless, as toddlers have no political power. So we will borrow from the powerless to fund our free money spigots until it becomes painful.
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This is almost like the joy of getting your first credit card.Everything is lovely.Bargains galore.For once in your life the ability to buy anything you want,regardless if you really really do need it.Living large with not a worry in the world.And then one day,out of the clear blue sky the bill arrives.It appears that the majority of the world has lived beyond their means,because the economic crisis is not isolated to the US.Now the entire world has recieved a bill,plus interest.
ReplyDeleteGlobal Socialism!!
ReplyDeleteAbsolutely 10:00....but you forgot one thing.....they can't pay the bill
ReplyDeleteOne problem with their description of the
ReplyDelete"Problem": you can't borrow money from a toddler.
What CAN you do?
Print money out of thin air. Then force everyone (eventually the toddlers) into "repaying" the money that got printed - WITH interest!
Criminal at every level.