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Welcome To the Darkside Helen Thomas!
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<blockquote data-quote="wkmac" data-source="post: 674151" data-attributes="member: 2189"><p>I think there would be a significant correction as you observed. Several weeks ago in another thread (sorry, can't remember where) I posted an interesting piece about the economic boom going on right now in the defense industry. I'm talking job growth, profits, etc. so again I think your observation is correct. However, this IMO is an unsustainable bubble not unlike the real estate/debt bubble that just imploded on us leaving us now where we are. Like real estate and debt, the American war industry is also maintained via debt and one need look no further than the last 10 years if not more to realize this.</p><p> </p><p>The other option by not using debt would be to increase the level of taxation on both the business and individual levels but then you are back to wealth redistribution by taking economic means from one or many segments of society and transferring them to another. In doing so, you also take away the free market's means of "best use" of asset allocation and now re-direct that allocation to a central planning function which in itself is an action of socialism. Fear is being used as a herding process and driving the mass towards the intended corral that central planning wants to herd the masses into. </p><p> </p><p>Purely on an order of economics, what we are doing is not sustainable in any manner of classical study that hinges on ethics and honesty. The points that JJJ made are true and although I disagree these functions should lay with the State (feel the same about police and defense too), for example in the case of roads, what does happen to economic progress as road and infrastructure breakdown? As they do, more people will lose jobs, less revenue in both public and private sector which means more job loss in the private and lost tax base in the public sector. This means on the public side in order to maintain the "war machine" if you will for economic benefit, you must defer to using debt which in itself is unsustainable.</p><p> </p><p>So on the one hand you stop feeding the war machine and the prosperity picture falls off the wall and on the other hand you continue to feed the war machine and the prosperity picture falls off the wall. But in the latter case, you've not saddled the nation with debt and the nation can re-align it's economic house and get back going again using the hard work and innovative ideas that made America a free and prosperous nation to begin with until we went and started meddling in other people's affairs.</p></blockquote><p></p>
[QUOTE="wkmac, post: 674151, member: 2189"] I think there would be a significant correction as you observed. Several weeks ago in another thread (sorry, can't remember where) I posted an interesting piece about the economic boom going on right now in the defense industry. I'm talking job growth, profits, etc. so again I think your observation is correct. However, this IMO is an unsustainable bubble not unlike the real estate/debt bubble that just imploded on us leaving us now where we are. Like real estate and debt, the American war industry is also maintained via debt and one need look no further than the last 10 years if not more to realize this. The other option by not using debt would be to increase the level of taxation on both the business and individual levels but then you are back to wealth redistribution by taking economic means from one or many segments of society and transferring them to another. In doing so, you also take away the free market's means of "best use" of asset allocation and now re-direct that allocation to a central planning function which in itself is an action of socialism. Fear is being used as a herding process and driving the mass towards the intended corral that central planning wants to herd the masses into. Purely on an order of economics, what we are doing is not sustainable in any manner of classical study that hinges on ethics and honesty. The points that JJJ made are true and although I disagree these functions should lay with the State (feel the same about police and defense too), for example in the case of roads, what does happen to economic progress as road and infrastructure breakdown? As they do, more people will lose jobs, less revenue in both public and private sector which means more job loss in the private and lost tax base in the public sector. This means on the public side in order to maintain the "war machine" if you will for economic benefit, you must defer to using debt which in itself is unsustainable. So on the one hand you stop feeding the war machine and the prosperity picture falls off the wall and on the other hand you continue to feed the war machine and the prosperity picture falls off the wall. But in the latter case, you've not saddled the nation with debt and the nation can re-align it's economic house and get back going again using the hard work and innovative ideas that made America a free and prosperous nation to begin with until we went and started meddling in other people's affairs. [/QUOTE]
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