Re: the future long term financial apocalypse of the USA

On Wed, 29 May 2024, Mad Hamish wrote:

On Sat, 18 May 2024 22:18:25 +0200, D <nospam@example.net> wrote:
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On Sat, 18 May 2024, Michael F. Stemper wrote:
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On 17/05/2024 15.31, D wrote:
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I was unaware we have anything resembling capitalism. What we have today is
a plan economy with government calling the shots, which is far from
capitalism. Many billionaires are the ones who are the most cosy with
politicians.
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As for who the wealth belongs to and the benefits for the population at
large, note that we are living at a high peak of civilization compared with
100 years ago on all scales, infant mortality, wealth, quality of life etc.

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The implication of what you're saying is that living at the peak of
civilization is strongly correlated with having a planned economy
rather than capitalism.

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That can be explained in two ways.
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1. What we enjoy now, was built up during times of much lower taxes and
much fewer regulations.
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When were these times of much lower taxes?
and a large part of the reason there's more regulation is because
companies consistently do things like pouring toxic waste into streams
without it
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Depends on the country you are referring to. I've met plenty of companies who do not pour toxic waste into the streams. The secret to removing the tragedy of the commons is to remove the commons. Then all will be well.
That reminds me of a story in india, where tigers were close to extinction in a public park. What they did was to give the right of administering and profiting from the park to a local village, and poachers disappeared plenty fast. The power of the market and individual incentives.