[VLM]

"you run the risk that the receivers spend it on shiny objects"

The problem is, what is a shiny object?

For me it might be going to grad school without a care in the world how I'll feed my kids.

For another it might be a car. Well, that's OK, car sales are imploding on a decade or so scale.

For another, housing. Anytime housing goes up thats trumpeted as an inherent good. It isn't, of course. But no one will say that in public.

Usually "wasted money" is just whatever someone doesn't personally like, its not actually bad. The problem with central planning, including of what everyone will have to invest in, is lack of flexibility.