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Current Events » in reply to it all depends on how you look at it.

Re: Re: it all depends on how you look at it.
gothgirl — (archived)

see, it appears we're not that far apart after all.

governments print money, banks print ious. in spite of my flippant tone i realize there is a perfectly legitimate role for credit and finance, it is a way of "bootstrapping", using tomorrow's prosperity to finance today the future productivity that makes tomorrow's prosperity possible. deficit spending can play an analogous role in government, as a flywheel to smooth out the jerks and lurches of a real economy and politcal system bouncing along through history..

but that system can be hijhacked by unscrupulous administrators and managers as well as crooked politicians, and alas, sometimes for the best of motives. and sometimes, when executives and bureaucrats are rewarded on the basis of short- term profits instead of long term performance, the worst of motives.

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