❝❝As far as the world's reserve currency, as a whole that's a bad idea. I doubt that Trump sees that, but competition is good. This is one instance where he is doing the right thing by accident.

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Yes, Trump is contributing to the debt, but so has every national politico since the "reform" of 1974. The continuing resolutions instead of actual budgets and the exploding bureaucracy are creating greater problems than Trump did. Both also predate Trump's election.

Meanwhile, that has nothing to do with the (BAD) idea of a single reserve currency or fractional banking. Both of which by their very existence distort the free market and introduce instability. But that is another topic or six.

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The aging population is a problem because a) government promised that it could provide better, more reliable retirement income than the private sector, b) government mandated contributions, thereby reinforcing the idea that Government Knew Best when it came to retirement and driving out many private sector alternatives, c) government mismanaged the funds it collected, and finally the REALLY Big One, government borrowed against those funds without payback.

A good smartphone can get up to the minute currency exchange information, along with futures markets, stock markets, index funds, and football pools. Understand this, the only "practical" reason for a single reserve currency is so the government producing the currency can control the economy.

None of which has anything to do with the Korean negotiations of the impact of Chinese trading.

ETA: I should warn you, some libertarians spend a lot of time studying economics.

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When people are told that they will be taken care of because it is their right, they stop paying attention to the numbers. That's true with pensions, Social Security, health care, public schools, roads, the post office, and clean water. I call it Somebody Else's Problem after a fictional FTL drive introduced by the late Douglas Adams. On the other hand, if they have to take responsibility, they pay closer attention. Just as one example, why should there be a mandatory retirement age? Just as interesting now that you brought it up, the current interest on savings accounts is artificially low because of government currency manipulation. It doesn't even beat the rate of inflation. Basically if you put money in a bank, you're losing money.

I'm not saying that the U.S. didn't benefit when the dollar was unquestionably the single reserve currency. That tends to happen with monopolies. I'm saying that competition and the free market can do better, with less government control and more choice and more benefits for people.❞❞

Tags: reserve currency ∙ fractional banking ∙ 1974 ∙ reform ∙ budget deficits ∙ budget process ∙ football pools ∙ aging population ∙ retirement income ∙ private sector ∙ mismanaged ∙ borrowed ∙ smart phone ∙ currency exchange ∙ futures markets ∙ stock markets ∙ index funds ∙ single reserve currency ∙ Somebody Else's Problem ∙ Douglas Adams ∙ pensions ∙ Social Security ∙ health care ∙ public schools ∙ roads ∙ post office ∙ clean water

When government is "responsible" for something, regular people stop paying attention.

Tags: cross posted ∙ power with vs power over ∙ Somebody Else's Problem ∙ Douglas Adams ∙ EPA ∙ Obama Administration ∙ Silent Spring ∙ Superfund

Headlines that don't merit their own entry

Tags: Crux Files ∙ climate change ∙ plant trees ∙ grow a garden ∙ climate alarmist ∙ profit ∙ foreign policy ∙ government ∙ Somebody Else's Problem ∙ Christians ∙ nuclear power ∙ Earth Day ∙ climate gap ∙ UNFCCC ∙ EPA ∙ political coup ∙ prestige ∙ truth ∙ heretic ∙ science is settled ∙ power ∙ money ∙ carbon dioxide ∙ scientists ∙ cascade effect ∙ spreadsheets ∙ consensus ∙ advertising ∙ thou shalt not dissent ∙ science ∙ Earth-centered religion ∙ human influence ∙ volcanos ∙ pollution ∙ water shortage ∙ mass produced architecture ∙ back seat ∙ climate models ∙ suberted ∙ industrial chemicals ∙ greenhouse gases ∙ raccoon population explosion ∙ polar bears ∙ environmental movement ∙ human activity ∙ climatology

❝❝The message was clear. There are problems but your Government Is Taking Care Of It. You don't have to worry. It's Somebody Else's Problem. You don't have to be responsible. Just put the right people in charge. Give more money. Give more authority. Sacrifice more rights. Repeat until we get it right. And don't ask too many questions.❞❞
     — NeoWayland

Tags: maxims ∙ government ∙ message ∙ Somebody Else's Problem ∙ authority ∙ money ∙ rights ∙ questions

Some of the comments I make on other boards are worth saving

Tags: libertarian ∙ authority ∙ trust ∙ bottom up ∙ top down ∙ commenting ∙ Somebody Else's Problem ∙ KYFHO ∙ freedom ∙ virtues ∙ vices

My take on true believers of all stripes.

Tags: Original Vigil ∙ favorites ∙ true believers ∙ MLK Day ∙ Arizona ∙ Somebody Else's Problem ∙ Bonewits ∙ E pluribus unum ∙ power with ∙ classic ∙ Hillary Clinton ∙ George W. Bush ∙ Bill Clinton