I see the political threads popping up all the time. There are very strong views on each sides and this thread isn’t about who’s right and who’s not. A friend FWDD a video, that a little old but many if not all the issues presented are pertinent today. Just wondering what some of your responses to this are.
Rather long (27min) but I feel its worth it.
Government planning simply does not work. For some reason there is a large group of people in this country who believe it is worth giving up our most basic rights in the name of national interests for the purpose of government planning. The idea that there are men smart enough to run economic systems was debunked when the Soviet Union collapsed, but still there are people who demand washington act on things in which they can only hurt with interference. The governments job is and always should be the enforcement of laws and fraud, not the planning of our lives and money.
Regarding his numbers in the beginning, things are a lot worse today and are only getting worse by the day.
Regarding planned inflation it does serious long term harm to the nation by discouraging savings which was demonstrated over the last 30 years while the average savings rate turned negative. The average American is in debt. And why not when inflation make that debt cost less every year?
I agree with your general principle of less economic regulation, but not with this. There are aspects of the economy that can be safely controlled (with a light touch), and which are vitally important.
For instance, the government’s role in trust- and monopoly-busting, protecting work conditions, and punishing misrepresentation and so-on. All forms of economic manipulation of sorts, that are important, and can be handled safely by the government.
:tup: very well said