tag:blogger.com,1999:blog-6276436620527782297.post6219938692656750071..comments2023-08-12T07:55:32.551-07:00Comments on Jubilee Year -- Cancel Our Debt: Banks Should be treated as Public Utilities - Thomas Hoenig, KC Fed PresidentJustinhttp://www.blogger.com/profile/01023125641719686613noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6276436620527782297.post-87157017685968039262012-03-18T05:36:13.886-07:002012-03-18T05:36:13.886-07:00There is an even more radical solution to the same...There is an even more radical solution to the same problem, one that would fit a lot better with the reality too.<br /><br />If you take the problem as being "how to get there" rather than "where to go", you discover another part of the problem with money, that the solution is FAR better seen as a need for people with profits to spend them.<br /><br />Just getting people with profits to spend them ends the hyper-concentration of wealth. With that the overbearing influence of money on our lives is over. I think you're not being radical enough if you’re not stubborn enough to think through how ending the compounding of wealth would automatically and gradually distribute wealth and break the hold of the extremely rich. But… are people radical enough to want to really solve the problem we face? It often seems not.<br /><br />I've written lots about it. Oddly so did the "secret" JM Keynes. Everybody seems unaware that the problem could really be just pushing a good thing too far. It’s more popular to search for malevolence, where it's only mistakes caused by deep ignorance being made. <br /><br />We need to face that too. The biggest problem is perfectly nice people with wonderful intentions, making unwitting enormous mistakes, of pushing their good intentions too far. The right way to tame the beast is for the whole money market to make the choice to spend its profits.<br /><br />synapse9.com/signalsjessilydiahttps://www.blogger.com/profile/09657452820388113610noreply@blogger.com