History is filled with bubbles and crashes. At this very moment, there are trillions of dollars invested into companies with no clear profit model who are openly and obviously fraudulent in their accounting practises. Do you think this allocation is driven by a rational consideration of the risks of investing in a business with massive obligations and no possible way to service them? Or take bit coins. They are fictional products with clear negative value, and yet some financial professional push to integrate this funny money into the real economy.
Compare and contrast: resource allocation in finance-heavy Western nations with the same in the finance-light China. It's abundantly obvious to me that, through suppressing their financial sector, China has reached a superior economic outcome than they otherwise might have. We have elected to make traders the managers of our economy, and I think they have done a clear bad job and that we aught to reassess treating their decisions with such primacy.
James_K|3 months ago
Compare and contrast: resource allocation in finance-heavy Western nations with the same in the finance-light China. It's abundantly obvious to me that, through suppressing their financial sector, China has reached a superior economic outcome than they otherwise might have. We have elected to make traders the managers of our economy, and I think they have done a clear bad job and that we aught to reassess treating their decisions with such primacy.