germany vs US

[Ursa Majoris]

the way to change reckless behavior is to let the negative ramifications run their course. taxpayer bailouts just have the effect of privatizing the profits of risky behavior and socializing the risks. that just encourages MORE reckless behavior. the other thing bailouts do is just reinforce the old economic patterns that no longer work.

 

the way out IMO is to let bad businesses fail, to let bad mortgages foreclose, etc. get the worst behind us, rather than throwing taxpayer money away pushing the worst forward. "Policy needs to do what it can to encourage economic activity in growing occupations rather than to freeze it in declining ones."

I tend to agree but of course that would be a suicide pill for whichever government was unfortunate enough to be in power post-collapse. I can hear it right now - "Obama isn't doing anything"

 

FWIW, the same fate would have befallen the Republicans too. Oddly, the great majority of the American public have applied your philosophy to their own behavior but IMO would be unlikely to tolerate it from their government.

[Azazello1313]

Oddly, the great majority of the American public have applied your philosophy to their own behavior but IMO would be unlikely to tolerate it from their government.

 

I happen to think a lot of americans would be incredibly refreshed and encouraged. you kind of see that with chris christie in NJ...he's creating a lot of angst along the way, and some fierce opposition, but most people, even in a pretty liberal state, are happy to see it.

[Azazello1313]

I made exactly that same argument in a different thread in August, but you ignored it

 

if I just re-articulated it and said it had merit, why would you think I ignored it?

[Ursa Majoris]

I happen to think a lot of americans would be incredibly refreshed and encouraged. you kind of see that with chris christie in NJ...he's creating a lot of angst along the way, and some fierce opposition, but most people, even in a pretty liberal state, are happy to see it.

That's the UK in a nutshell. The people aren't particularly happy that retirement age is going to go up, some universal benefits are going to be cut and the government will be able to do less but they do understand that it is necessary - either that or go broke.

 

I really wish someone here would sit down, look us all in the eye and tell it like it really is. Not self-serving bull$hit claptrap about how if we'll just give more tax cuts to rich people all problems will solve themselves, not sob stories about granny freezing to death if we don't all fork over more but a good healthy dose of truth and reality across all aspects. How awesome that would be! Total vote loser, of course. Who the heck wants to do the sacrificing?