WOT POT CALLING KETTLE BLACK?

A great article - everyone should read, including the book advertised.

Though article draws a long bow when it broadly questions the very same private enterprise system (of which banking is an integral part) that employs investment managers and book sellers.

In that regard, below the article, all should buy what is advertised:

"The Financial System Limit is published by Sparkling Books, ISBN 9781907230783 ($A 20). There is also an e-book 9781907230776. The introduction and first chapter can be read without registration at www.sparklingbooks.com/limit.html."

Good fortune in enterprise to all.

debt exists for a reason: to fund private sector investment.
Aidan,
Yep but that funding should be for Govt projects to engage the Private Sector not help their investment.
After they get paid they can invest in whatever they see fit, just don't expect us via Govt to fund their investments. They have to work for that first !
Get rid of that insidious commercial Welfare that is Negative gearing ! They must be made to pay a perhaps slightly lower business GST but pay they must. Their personal income should not be allowed to be reduced to no Taxes paid yet still reside & live an affluent lifestyle.

plantagenet,
Have you read the entire book?
What do you think of the criticism I made further up the thread?

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individual,
>Yep but that funding should be for Govt projects to engage the Private Sector not help their investment.

What do you mean by "that funding"? I notice you sniped my comment to...
| debt exists for a reason: to fund private sector investment.
...removing the context in which I was clearly referring exclusively to private sector debt.

Private sector funding should be for whatever the private sector can do profitably (within legal and ethical constraints).

Now, when it comes to "Govt projects to engage the Private Sector" you seem to be unaware that such engagement does help private sector investment, as it provides opportunities to make private sector investment profitable. Saying they have to work first is quite an ignorant statement, as the work they do isn't going to have much value if they don't have the right machines.

If you're saying you're against subsidies, that's fair enough - but that has nothing to do with the comment you're replying to. Creating an economy where there are ample opportunities for the private sector to make money is a very important role of government, and widespread unemployment will ensue if the government fails at it.

Closing tax loopholes is also desirable, but of very little relevance to the issue being discussed.

Aidan

Don't know what you're on about meine Hibernian Muchacho.

I don't need to Buy an author's marketed book

to type my free comment on an article.

Cheerio

Planta

you seem to be unaware that such engagement does help private sector investment, as it provides opportunities
Aidan,
That's what such engagement is supposed to do, stimulate the local economy of which the private sector is a major component. What it is not supposed to be doing is to fill the Bank Accounts of Private sector Bosses who don't provide employment i.e. such as those who go bankrupt & leave subcontractors stranded with the Govt bureaucrats' blessings !

I get that the usual numbskulls, who basically, do not understand how an economy works/economic parameters!? Are all over the shop on this debt issue. There's a time and place for debt! Just not for flogging dead horses or funding recurrents!

This is a time for governments to step up to the plate with visionary nation-building Projects! Rapid rail would be my first choice given, with the right paradigm and management in place! The thing would all but fund itself if supported by government-guaranteed, self-terminating, tax-free, thirty-year bonds!

The self-funded retirees/super managers the world over would trample each other in the stampede to subscribe. Given this would be an investment vehicle That would not change over the life of the investment as guaranteed by the national government, the treasury, and the reserve bank!

The thing that prevents such projects here, is (Mr Smirk) the old boy's club and cronies protecting cronies/vested interest!

Haseen. I take your fuzzy wuzzy comment and mostly agree, except if we embarked on visionary nation-building projects? And we could! We'd need all hands and our friends across the Pacific!
Alan B.