Re: Economist nonsense Soc.Sec. and houses

ZerkonXXXX wrote:
> On Fri, 21 Nov 2008 10:15:51 -0800, Peter Franks wrote:
> 
>> Can credit be legislated away?  Should it be legislated away?
> 
> First the question: Can or should it be legislated into existence?
> If it can then the opposite can follow. 

I don't know if either is the domain of government, regarding credit in 
the (private) marketplace.  From every consequence I'm aware of, as soon 
as government legislates anything wrt to the economy, it does the exact 
opposite of the intention.

However, wrt to government, Article I.8.2 should be repealed post-haste. 
  Except in its formative state (and even then it is questionable), 
government should only operate in the black (no credit, no deficit) and 
should never offer credit to other public or private entities.

Now for the soap-box: credit is a tool of the devil.  Credit has a 
somewhat pleasant sound, however, at its core it is nothing more than 
financial bondage.  Only a totalitarian would want to legislate credit; 
rather sound financial and budgetary practices should be taught and 
lived, starting with the family.  I've posted the links before 
(www.providentliving.org), but even if you don't peruse the site, the 
underlying message is universal and true: use a budget; get out of debt. 
  Credit is not a lifestyle, it is a path to destruction and financial
ruin.