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[+]jxfaith4 points2 points6 points
ago
(edited ago)
[–]jxfaith4 points
2 points
6 points
(+6|-4)
ago
(edited ago)
What does fractional reserve lending have to do with fiscal policy? If politicians weren't buying votes from today's voters on tomorrow's voters' pocketbooks, it wouldn't matter whether fractional reserve lending existed or not.
The plain and simple is that people will always vote more money for themselves if given the choice. This manifests across all levels, in all regions. As long as the politicians can write blank checks after the fact to make up for the revenue shortfall, they'll keep doing it.
Fractional reserve lending contributes to significant devaluation of currency, there's no doubt about it, but it isn't responsible for the haphazard spending practices of our government at large.
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[–] jxfaith 4 points 2 points 6 points (+6|-4) ago (edited ago)
What does fractional reserve lending have to do with fiscal policy? If politicians weren't buying votes from today's voters on tomorrow's voters' pocketbooks, it wouldn't matter whether fractional reserve lending existed or not.
The plain and simple is that people will always vote more money for themselves if given the choice. This manifests across all levels, in all regions. As long as the politicians can write blank checks after the fact to make up for the revenue shortfall, they'll keep doing it.
Fractional reserve lending contributes to significant devaluation of currency, there's no doubt about it, but it isn't responsible for the haphazard spending practices of our government at large.