Discussion in 'Economics' started by Rickshaw Man, May 29, 2011.
it will happen
You believe that the author is correct? Or you believe that the right people in sufficient numbers will take action based on her recommendations because *they believe* she is correct (even if she isn't) ? The article appears to be from about 1 year ago ...
Her reasoning seemed very incomplete to me. So South Dakota doesn't have the interest expense that other states have. So what? Without fiscal responsibility, they simply would have pissed away that extra money same as any other state. Rather like big lottery winners that somehow manage to wind up broke again shortly afterward.
We need some better exploration of what factors led to South Dakota's budget surplus. There just wasn't sufficient evidence for the State-owned-bank hypothesis. At this point, I think that encouraging other states to own banks would be like giving them the rope to hang themselves by.
I really think we are at a pinnacle where things could go either way in lots of things.
Banking is odd. I don't know if people might reject the current system altogether and use equities instead.
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