Anyone willing to bet on a devaluation of the dollar when all the debt bubbles burst?

[Galen]

(05-25-2016, 04:10 PM)pbrower2a Wrote:

(05-25-2016, 12:53 PM)Galen Wrote: Eric the (Green)  has given more than enough evidence of mental insufficiency to conclude that he doesn't understand the Mises quote and its implications.

Here's the quote:

Quote:If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action.   -- Ludwig von Mises

Allow me to parse it for error. We all know that human nature is flawed. Because of the flaws in human nature, one can of course expect flaws in business -- especially where greed operates. Surely we can all dissent with false and misleading advertising, with having small children work in mines, with the sale of deceptively-labeled cure-alls, and of course with unrestrained destruction of the environment. Milton Friedman, generally very much a proponent of free markets had his answer to the question of how to deal with pollution: tax the Hell out of it!

We should reasonably expect people in positions of trust to act honorably, and to avoid conflicts of interest. Thus a CPA should not entice a client to cheat on taxes and then report the client to the IRS for a reward. (Remember: no matter what the economic order there will be some taxing authority).

What you expect doesn't really matter. What does, is that you expect a population of fallible people to produce competent and ethical people to rule us.  This is a logical fallacy which is demonstrated by the fact Nixon who contemplated using the IRS for political purposes and later actually did and got away with it.  Then there is the Bush and Clinton crime families just in case you needed a few more examples.  Then there is Congressman X and his book.

This is the reality that neither you or Eric the Obtuse can accept.