Libertarian Jackass

"Life is short, but truth works far and lives long; let us speak truth." -- Schopenhauer

Monday, May 23, 2005

CHINA AND US CONSUMER DEBT The middle class running up debt to fuel lavish lifestyles. Isn't it great that, in America, uneducated, non-skilled laborers (for instance, waiters, waitresses and mortgage bankers) drive nice SUVs and live in expensive homes?

And it's not just because LJ is a big tipper. It's the democritization of credit! The democratization of money! I think everything should be democratized. Why didn't mankind think of this idea earlier, say, 2,000 years ago? Man, these modern financial innovations (collectivized banking and monetary system) really do eliminate scarcity and generate massive wealth!

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