Why rely upon a system that can and will be gamed, that ignores the fact that there are additional flows of costs in the economy over and above interest and that not only isn’t “into” pain and obsessive moralism, but can integrate both individual monetary abundance and price deflation at the same time?

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Old Guy:   Can the Private Sector in any country hire everyone of its citizens? I will leave it at that unless someone replies to the question including you Mish.

Me:   Of course they can’t. Engineers, innovation and AI have been trying to free mankind from employment…..and Bankers who refuse to give up their monopoly paradigm of loan ONLY, and economists who refuse to look at the flow of additional costs that continually raises the flow of minimal prices….have missed those facts. Full time employment participation rates and aggregate incomes prove this and again, with innovation and AI have no where to go but down.

Sorry, you’re all nascent social crediters.

Old Guy:  Well chdwr thanks for the reply my point is the government will always hire people contrary to what Lucas thinks government must have people to function. Yet people think the country will run itself and all the infrastructure and ports, and various departments must have people. They are not slackers or bad for being a civil servant.

We will never agree on everything and you and I know that well do we not hehe. There will come a time when your social credit or a basic income will come to all in the future. I will grant you that and have in the past. I have also posted many times about debt forgiveness. But it will not happen for citizen debtors in this period of history.

Me:   Thanks for the acknowledgement of the inevitability of Social Credit. But it doesn’t take a long time to make such changes…only the awakening to the fact that the present system is completely unethical…..without them.

As for government employment, not only do I acknowledge that there’s an awful lot of it that is unnecessary and only exists to (vainly) attempt to fill Social Credit’s “Gap”, but you could wildly increase it and it still would not stabilize or equilibrate the economy….because the government money is injected into the economy via the enterprise of government or some private enterprise…..AND HENCE RE-INITIATES THE INHERENTLY COST INFLATIONARY NATURE OF A HIGH TECH CAPITAL INTENSIVE ECONOMY.