Posted by
Playful Walrus on Monday, September 29, 2008 6:22:12 PM
Are we really to believe that people who make their living investing and lending will stop doing both entirely? I’m really not all that concerned that some things won’t attract investors, or some people won’t be able to get loans.
Government intervention breeds more government intervention. Capitalism will spur growth as long as the sun is shining and people are being born. Yes, there will be slowdowns, pullbacks, tightening, and profit-taking, but in general, the overall trend will be towards growth if the market is left alone.
Read the Constitution. The government should be there to enforce contracts and fight all forms of theft, including fraud. The federal government should resolve disputes between states that can’t otherwise be resolved. But it should not try to make sure you can retire when you want to, or work where you want to, or live where you want to, or drive what you want to. It should not rescue businesspeople who have encouraged bad loan practices.
Senator Biden said paying more in taxes is patriotic. But there are other things that are definitely patriotic:
- Providing a good or service that other people find useful enough they will pay for it.
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- Producing enough children to at least replace yourself when you can no longer provide that good or service.
- Spending less money than you make so that you can not only pay your bills, but save, invest, and insure. This means not buying things you can’t afford, looking for a bargain, considering your investments carefully, and being diverse in your investments. If all of your money is in real estate, that’s a problem – but it shouldn’t be mine. If all of your money is in stocks, that is a problem – but it shouldn’t be mine.