devoish, I responded to your post!
I responded to your thread here, but It's been a while since the last post and I wanted to make sure that you saw it.
My response is below...
"Absolutely" is a rare yes or no answer to a yes or no question. It surprises me that you want Gov't policy to promote any economic outcome over another. I thought all Government intervention was what you abhored.
devoish, this is the kinder and gentler ChrisGraley. I'm trying to not get upset with someone that has a different opinion from now on, and I'm trying to explain rather than convince.
You are one of the biggest reasons that I've made that choice. I think that you are a very good person and you have very good intentions, but I think that you have a few flaws when it comes to the economy. I understand why. You've bought into an entire political platform and you are relying on economic advice from people that are economically flawed as well.
To quote your question "Should the Government help savers at the expense of borrowers, for example, by adopting Austrian economics." The answer is absolutely yes! The government is helping savers by the fact that they are not choosing to intervene. If the government chose to inflate dollars like they did when I was a child, my prosperity would be the burden of my children. I would prefer to die destitute then to have my children carry my burden.
Your example of the railroad in Florida is an investment. It didn't make money short term, but it made it long term. In a fiscally responsible country, the same investment could have been made without debt. Even in a fiscally mismanaged country like ours, it could be made with debt and a decent cost/benefit analysis.
Don't get me wrong, I certainly don't mind spending money for growth, but I don't like spending borrowed money and I certainly don't like spending it like water. The previous housing crisis was created by the consumer taking on too much debt and the same economic laws apply to governments taking on too much debt. The problem is that given the time that it takes for the bubbles to burst, my kids have to pay for my mistakes. I'd rather shoot myself in the head than to have that happen. Life is going to be tough enough on them already, without having the anchor of my debts.
So to reiterate, the answer is absolutely yes! If it makes my life harder, it is still absolutely yes! I'd prefer my life to be harder, if the lives of my children are easier.
When I have to account to my children about what went wrong, I don't want to explain the Ford years, the Carter years or the Reagan years. Those Presidents aren't in charge of protecting my children. I'm in charge of that. No matter what you see on TV, there is no such thing as free money. The money looks like it's free, but your children are paying those inflationary dollars!
1 of 2 things is going to happen very shortly, the government in this country is going to suddenly become accountable, or my family and I are going to load up on a boat a float to a place that is accountable. I didn't agree to continue to live here, I was born here. My children made the same mistake of being born. I'll be damned if I allow them to become slaves to idiots for the simple fact that they were born here. I'd prefer for them to succeed on their own merits over being destined to fail at birth from my mistakes.