>...vital interests and the infrastructure we depend on is secure and that’s going to take a pragmatic approach.
I argue for letting these businesses fail, even if vital, because, it seems, the powers that be have forgotten to take care of them, regulate them, and not get captured by private interests, for decades now. Infrastructure across the the country is literally crumbling. Major dams have failed this year. I fully expect to suffer much more before those with the power to delegate resources where needed will find the will too.
Moral hazard. Why would anyone waste money planning for something that could make the business fail, when they know there will be trillions in bailouts?
We'll solve the problem eventually, I guess, when it becomes clear that there's no money left for bailouts.
Money will never run out. Government will just print more money resulting in inflation and other problems. Most of the currencies are free floating and are not backed up by something tangible like gold.
Oh, sure, money itself may conjured such that it never runs out, but the ability of the government to tap the economy's output is definitely finite.
If you start just conjuring money to bridge the gap, you're basically robbing whoever holds money (or other financial instruments denominated in your currency). These parties then work very hard to stop holding money. When that process is done, you're back where you started, only with less trust, higher transaction costs, and elevated risk burdens depressing output across the economy.
I argue for letting these businesses fail, even if vital, because, it seems, the powers that be have forgotten to take care of them, regulate them, and not get captured by private interests, for decades now. Infrastructure across the the country is literally crumbling. Major dams have failed this year. I fully expect to suffer much more before those with the power to delegate resources where needed will find the will too.