Galt's Gulch
10

The Supply Side is the Only Side

Posted by mshupe 4 years ago to Economics
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In reality, government attempts to eliminate risk only increase risk. If an entrepreneur makes a mistake, he pays. The private sector can’t afford to avoid reality. If a bureaucrat makes a mistake, you pay, they operate in a closed system. There is no doubt that we will all pay for their subjective, forced shutdown of supply-side, life-sustaining production. Their feeble replacement, demand-side spending through the CARES Act, will only extend and magnify the consequences of avoiding reality.
SOURCE URL: https://www.centerforindividualism.org/a-world-of-ideas-principles-and-action-define-modern-poetic-justice-warrior-mark-skousen/

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  • Posted by freedomforall 4 years ago
    And how do the government "public servants" respond? They bail out banks and arrange for banksters to get paid for all the riskless loans that government can provide.
    Government could be funding direct to the people who are being destroyed by government action, an act that could be done easily by sending out payments to everyone who filed a tax return. Instead the bankster controlled con-gress gives the banks fees for issuing loans and those who are suffering must pay interest to banksters on loans that are guaranteed by taxpayers and created from nothing. Banksters have no investment (other than the lobbyists and campaign contributions) and no risks.
    The recovery payments are a FRAUD that are designed to enrich banksters who deserve to be prosecuted for treason.

    Meanwhile Wall St manipulates share prices as usual to increase volatility which is the source of much of Wall St's unearned, non-productive gains.
    The non-productive are repeatedly rewarded and the productive are punished. That is the apparent goal of every act of government.
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    • Posted by term2 4 years ago
      Very interesting. This paycheck protection program is a 350B giveaway to I think special interests with political pull. If they didnt do this, good business would find a way to reopen, but with fewer employees ( the remainder would go on unemployment with a $4800 windall each). Which we all pay for later of course.
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    • Posted by mshupe 4 years ago
      On top of that, not mentioned in this piece, is the newly formed partnership between the Fed and Treasury for their new Special Purpose Vehicles, that will further erode market pricing of risk capital, the last remaining advantage America has for the efficient allocation of capital.
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  • Posted by Herb7734 4 years ago
    You've got that right. They fail to realize that in our type of government, "We have met the enemy, and he is us." When government fails by enacting asinine laws, we, the citizens, wind up paying for it. The government is not some powerful entity, but one that's funded by the imaginations of over 300 million people. Problem is that imagined money only works in the minds of men who wrote books 100 years ago.
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  • Posted by term2 4 years ago
    All the government needs to do is to get out of the way of the economy. Look at the success of china, basically because the CCP did just THAT- got out of the way.
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    • Posted by $ blarman 4 years ago
      China is probably the worst example of that you could pick. EVERYTHING in their economy is government-controlled. The only bastion of economic greatness in China is Hong Kong, and the Chinese Communist Party is trying to ruin that by instituting their standard controls - which is why they revolted in the first place.

      If you want an objective measure, check out the economic freedom rankings put out by Heritage: https://www.heritage.org/index/ranking It's quite exhaustive and details out twelve different areas and how that nation is doing in each. China ranks at 103. The US is 17.
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      • Posted by term2 4 years ago
        But how do you explain the tremendous growth of the private economy in china in the last few years. Whatever they have over there, its unleashed entrepreneurial activity like mad. We deal with the small companies over there, and they are really awesome. I dont like that the CCP benefits from this at all, but the creativity of thepeople themselves have been unleashed
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        • Posted by $ blarman 4 years ago
          It starts with China's currency manipulations. Because they devalue their currency, they create export opportunities by making their goods cheaper to purchase. Because their government controls their economy, they can offer subsidies to offset these devaluations. But the notion that there is a "private" economy in China is far from accurate. All international trade is heavily regulated by everyone from their local magistrate to the Party leaders. (My dad did business for a time in China and he had to regularly rely on his Chinese partner to pay the bribes necessary.) And if you look at any of the corporate boards, you will find nepotism and communist party leaders there.
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