Gambling With The Economy

I just heard Stefan Molyneaux make an excellent analogy for how bankers are helping to destroy the economy.

A gambler in a casino is being bankrolled with other people’s money, to whom he has no responsibility. As such, if the gambler loses, other people pay. If the gambler wins, he keeps it all.

If you’re in a casino with those kinds of rules, how much would you risk, how big of a payoff would you shoot for, and how long would you gamble for?

Now some of you might say, “I’d be moral and act as responsibly as possible with other people’s money, and return payoffs back to the people.”

And some of you actually might. But even if you really are that moral, bankers are not.

This is what they mean when they say that banks are “too big to fail.” If the gambler stops gambling (i.e. the banks fail), the casino goes under too.

There’s much more than that. Check out Stefan’s full video:

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