There's a similarity between "defund the police" and markets.
If the police are defunded, it would correspond to a rise in vigilantism.
Markets already have vigilantes. Fortunately they do only monetary damage.
The problem in both cases is that society should make up its mind: Police or vigilantes?
The Fed or "bond vigilantes?
Life wou…
There's a similarity between "defund the police" and markets.
If the police are defunded, it would correspond to a rise in vigilantism.
Markets already have vigilantes. Fortunately they do only monetary damage.
The problem in both cases is that society should make up its mind: Police or vigilantes?
The Fed or "bond vigilantes?
Life would be smoother for all of us if we could only decide. And stick with it.
I'm not sure I agree with the vigilante analogy.
"Bond vigilantes" are free market participants. They are who really should be setting interest rates, not a central bank.
Maybe we don't disagree. I'm in favor of abolishing the Fed as well as the police. Vigilantes "all the way down." chuckle.
Do vigilantes make mistakes; even life or death mistakes? Sure. But, if we are willing to admit it, government makes bigger mistakes and more often.
So is it another case of the "evil of two lessers," as is true of our two Presidential candidate choices?