Tuesday, May 11, 2010

More Bail Outs

More bail outs  as the EU announces a trillion euro bailout for the Piigs.

The excuse for all these bailout is that they cause feedback that will cause even more failure. 

So why do governments treat monopoly as bad in private business but make monopolys of their own and treat them as good.  I am referring to the government monopoly on currency/money which is in my mind at the root of the feedback problems in the financial system.  The feedback is what lead to the bailouts. 

We need to design a monetary system with a fail safe.  We need to design it because it cannot evolve because of the central bank's monopoly!  You cannot have natural selection without diversity!

Bryan Caplan blogs on the bailouts

Another blogger that thinks like I do on the subject. 

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