fairs. i disagree with the band aid rip idea...id rather not live in mad max capitalism. Slower the better and I know there is no world where all deficit spending is replaced with UBI...it will be UBI on top. But I also think, while unfair, targeted deficit spending is less damaging to price discovery and capital flows.
Discussion
That’s true.
My main problem with targeted deficit versus broad stimulus is that the things specific deficit is targeted at are usually evil crimes against humanity. War, surveillance, property confiscation, and destructive forms of research and propaganda (COVID)
If you give average people checks, they will pay of their debt, buy food, pay rent, etc. Sure, the price discovery process is worse, but it’s the same end result as putting it all at the top and it prevents horrible central programs from being funded.
Also, Social Security is effectively UBI for old people. That already massively distorts the pricing mechanisms of society. Half of my customers are retirement age because they are the only people who can afford to not care about the price of restaurant food.
The fiat system of debt and money creation has to end, let’s get it over with.