Professorlocknload
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“the advanced capitalist economies grew the fastest between the 1950s and the 1970s, when there were a lot of regulations and high taxes”
And to think, all this time I thought that growth era of the 50’s and 60’s was due to cheap oil.
Perhaps the delay in the economic waters seeking their own level lies in too much faith in our political institutions to take care of us and protect us from any form of discomfort. When that faith is finally shaken, and not before, then change will come.
The mantra “We must do something” is suggesting we prolong the fallacy that various “interventions” in the course of nature have created, ie; the mess we are in.
“It” can’t be “fixed” anymore than an earthquake can be prevented, or a tornado, or a drought. Real economic freedom can’t survive and thrive in captivity. Of any sort. Let alone in an environment where corrupt political power defines the value of the life’s blood of economic freedom of association, the money itself.
Or, as Acton stated “Power corrupts. Absolute power corrupts absolutely.” This applies equally to things economic.
“In essence, the state has no choice: to save itself, the middle class must be sacrificed.”
Charles Hugh Smith
https://www.zerohedge.com/news/2014-05-07/how-middle-class-lifestyle-became-unaffordable
TV’s aren’t manufactured by the State. Educational and Health Care hierarchies are. Productivity?
JHK’s piece;
“Nobody knows, from sea to shining sea, why we’re having all this trouble with our Republic.”
— Tom McGuane, Ninety-Two in the Shade
What Republic?
The entire World’s economy in the tank, and we are supposed to worry about the sea level rising?
I would worry more about the Financialization of the weather on Wall Street and the open ended taxing abilities handed to governments, than I would buying ocean front property in Arizona.
Add the fact that there is a big “Economic Recovery Act” sign down at the waterfront in front of the new government financed harbor renewal project in my town, all constructed just 6 feet above High-High Water. Guess they don’t really “believe” back there in DC? Other than in the “Control”`aspect, that is?
“Obama’s Top Science Advisor Warned In 1971 that a New Ice Age Was an Imminent Threat … Which Could Destroy Agriculture and Cause a Sudden Slump In the Antarctic Ice Cap, Leading to the Biggest Tidal Wave In World History”
So, which is it? Are we in Recovery, as the government assures us? And are the seas going to drown us, as they also claim to know for a fact? Or is this all nothing more than another way for the anointed to persuade us to surrender more liberty and treasure in exchange for illusive security?
But, sure, nuclear power plants are safe, the wars in Vietnam, Iraq, Afghanistan and all the other points of our interventionist forays were as necessary and winnable as the domestic wars on drugs, poverty, and inequality. And especially all the campaigns to insure the enforcement of “morality.”
So how could the war on Climate Change be disputed?
Why would one keep money outside his personal control, in plain sight of an international banking system that is enamored with the philosophy of Bail Ins, coupled with a Congress so greedy it can, with the stroke of a pen, raise taxes far in excess of the ten percent penalty and present tax rates combined?
Like, first con the public into supporting a wealth tax in the form of a Capital Gains tax increase to say, 50%, to punish the rich, mind you, then simply include Retirement Accounts in the fine print? Possible, you ask? Just book it!
All the while our benevolent rulers are depreciating the value of those retirement funds at rates somewhere between 7% and the penalty rate of 10%, while holding rates of return artificially low.
Use it or die? More like use it or lose it. Folks must finally see the folly of entrusting a rigged system with their money, if they understand the Fed’s principal of “Inflate or Die.” It only makes sense to pull funds now at lower tax rates and brackets, than to risk all the known forms and unknown forms of confiscation available to out of control Central Power.
Besides, those funds were put away to use on a rainy day in the first place. Well, it’s raining!
Of course, the entire IRA/401K program was set up to fund .gov and it’s enablers on Wall Street from the get go. Now that the tables have turned, look for the Power to do everything it can to restrict access to those funds in a panic of self preservation. It’s in the “national interest,” you see?
“The only thing we’re sure of is volatility. And that tells us that the entire “system” could crumble just as easily tomorrow as the day after. But crumble, and implode, explode, collapse, it will. Ponzi schemes always do.”
Spot on, just the timing is left to the imagination. Faith in Rulers runs deep, especially among the population of a nation that won the last World War, and has prospered rebuilding the damage done to the losing nations these last several generations. A strong sense of “It can’t happen here” has developed, since the long forgotten Civil War.
On volatility, grand Socialist experiments always begin their journeys with the voluntary support of all those who would benefit, and by those who would foot the bill, reasoning it’s a small price to pay for an egalitarian solution to the “nature” of inequality. It’s sold as a humanitarian thing to do by it’s administrators.
But as more and more realize they can vote themselves a little higher standard of living than the next guy, the costs become a burden to the producer, who then must also line up for subsidy. When critical mass is reached, and the costs exceed the governments revenue sources, the worm turns. (Now?)
At that point, voluntary becomes mandatory, as governments isolate from constituencies, granting generous internal pay increases and benefits far in excess of those of the common folks, in a gesture to purchase loyalty within the ranks. Of course, the public eventually becomes less important to the cause. But the Corporate Structure has much to contribute to the ever closing system, so is taken on in partnership. (Government/Corporate Partnerships ring a bell?)
At first, resistance is punished by example, but as living standards continue to deteriorate, blunt force is administered. Cops paid in six digits, when bennies are figured in, will do whatever is necessary to maintain those lucrative positions, as will most “Civil Servants,” to eventually include the military when the need arises.
The reason timing is such a hard call is, the Corporate Media also has everything to lose in this condition. It will shore up it’s protectors, same as all net benefactors of .gov will. Their “Powerful servant, and fearful master.”
Odds on, though, it ends with a whimper, not a bang. “Crumble” fits. Although it’s a heartening thought to envision a Yeltsin reincarnate standing on a Tank outside Con-gress, waiting for the turret to turn toward the Capital Building.
One would think lots of errors will be created in the process of International Statist campaigns of political reorganization (seizure of power?) and wealth redistribution. LOTS!
But of course, the State, being the most productive entity out there, knows what’s best for the Proles, no?
In the words of Kyle Bass, “Be very cautious.”
Though no one knows what the markets will do now that they are less dependent on fundamentals and more dependent on Central Banks, and though the Fed knows what it will do in an attempt to move them in a politically favorable direction, they can’t predict human action. So, Grantham’s tarot cards dovetail nicely with a crackup boom scenario.
Besides, where else can all the newly created monetization go? 0.75% CD’s? Cash in the mattress, with the price of consumer necessities on an ever increasing trajectory, causing a daily reduction in purchasing power?
Never mind looking at fundamental value. It doesn’t mean anything any longer.
It’s called Moral Hazard, and the American public seems to be just fine with it so long as the Bread and Circuses continue. ‘Till some 3+ sigma event occurs, I guess it’s just sit tight and be amused.
“but the rise in spending has a very solid link to healthcare services, and while that may boost GDP, so do traffic accidents. ”
So, The Broken Window Fallacy is valid after all? And to think I expected the elitist’s reaction to such headline would be to propose extending Obamacare mandatory coverage to domestic animals, fish and birds, to include dental and manicures.
Ever wonder if there’s a connection between Obamacare>mandatory wealth transfer to insurance companies>union pension annuity enhancement>big PAC and insurance company donations to their “representatives?”
Nah, couldn’t be. Such a thought would wax too ‘ Sombrero de Papel de Aluminio’ maybe?
Yes, Ken,
Currency devaluation always redistributes wealth, by design. To those who receive the new free money first, (the owners/creators of it and their friends) from those farther down the food chain who get it last, and must borrow it in it’s diluted state, because they cannot print their own, (the since disconnected enablers of the former)
It is Stealth Taxation.
But, then, all bureaucratic Welfare States morph into fascist ones. It seems to be the nature of things. Happens when the Bread and Circuses necessary to maintain power can no longer be financed by revenues alone, so devaluation is used to create an illusion of wealth ( growth.)
But of course, this in not organic growth, so it can’t sustain itself, anymore than can the Red Queen eventually break even by running faster.
https://www.goodreads.com/book/show/3608935-tethered-citizens
Yes, Ilargi,
It’s painful seeing it for what it is, but knowing what it is can be a blessing. As I said here some time way back, the trick is living through the final implosion while getting as little as possible on ya.
Can’t tell others what to do, but this, still in my mind and actions, is where it ends. Always has, always will. History proves it out. We just can’t know when;
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.” Mises
So, I expect Red Queen Jan to do what they all do when they see the steam roller of reality fast approaching. Run faster down the grade. Of course, the roller has the same downhill advantage, and is constructed of durable iron as a long lasting tool of productivity, not flammable, less and less productive paper.
Humm, take the wheelbarrow, dump the notes?
It’s not an event, it’s a process. It can take several generations, as in Czarist Russia, or it can happen in a generation or so, as in Weimar Republic.
Really, in light of the most excellent read linked above, this one has run from the “New Deal” to now, as it is. That’s 80 years of some degree of dependence on the Nanny State by Corporate players as well as Civil. Or, one could take it back to the manufacturer of that debacle, to 1913 and the Federal Reserve Act.
As mom used to say, ” Patience and Tortoise Food, dear boy.”
Ps. Wouldn’t bet the ranch on Taper. A tad less poison isn’t panacea. Cold Turkey is, even though the addict believes it will kill him, it will do the contrary.
“If there occurs an absence of growth in an economic system, it must be, by default, because the wrong policies have been applied. Economists will then prescribe the right policies”
Policies, eh? Maybe economies shouldn’t be so Policed? In a pure sense, they really don’t do so well in captivity. An economy that operates on a basis of freedom of association is free to fluctuate and adjust. Growth isn’t necessarily required. When irrational exuberance runs it’s course, such an economy is free to enter a period of deflation and healthy retrenchment.
Sure, some discomfort would be experienced, but such discomfort would be remembered and avoided in future. (Moral Hazard?)
Ah, but how could benevolent government stand by and let that happen? Isn’t it it’s job to protect us all from anything bad happening, like reversion to natural law?
As long as government controls the currency, it will run (police?) the economy. In that light, where should the blame for failure be placed? After all, economists are simply attempting to direct government to their special interest causes, just as any special interest would. Why? Because central power is a mighty force. So mighty, that it eventually becomes it’s own special interest.
The only solution to these dilemmas is to whittle this power down to “economy” size and keep it there, discouraging future misuse by those who would abuse privilege. Then, put money back in honest form and into the hands of the people, who may then decide on it’s best and most efficient use, including what share they deem sufficient to entrust to government for it’s drastically reduced day to day operations.
Or? Continue to grant consent to our masters and accept the consequences. Like, look around at the mess central planners have made, then demand they “Do More.” .???
In short, proof might be found in the fact small local economies function better because there is no command and control center running them, so less incentive for seizure and manipulation by less than straight shootin’ wranglers.
To wit, look what the printers did in 2 short years.
Might be markets have already collapsed and are fairly valued, it’s just the dollar they are denominated in has been devalued. We might see the end result when the dollar has finally been depreciated by 50% from 2007 (or by what ever number the creators, owners and operators of it deem appropriate) and after it has all worked it’s way through the system, wages being a laggard in these cycles.
Humm, a 50% devaluation might translate to present Dow 16,000 equaling half the value of 16k, priced in a 2007 dollar? If that is the case, would it be far fetched to think maybe Dow 32k is possible at the peak of the crackup boom that may be coming?
On the equality outcomes that were signatures of Maoist China, Stalin’s Russia and todays North Korea, the creators of those utopian wonders might agree with;
“that’s actually a very fine task for a government: to make sure that things are handled fairly, and with no negative impact on their people.”
Personally, I worry about a State powerful enough to provide “Equality” for all, let alone the thought of granting the kind of power to authoritarians to even define “equality.” Four legs good, two legs bad?
Like, bankers good, peons bad? Fine task they have accomplished in their quest to remain powerful enough to grant “equality.” But, then, ‘That government big enough to give you everything you want is, most certainly, big enough to take everything you have’ ,,,isn’t it?
All said, there is no way Yellen and company will let their creation die mid experiment. The nuclear money explosion option will be used first, covered by the wealth and power redistribution instrument of war. The outcome be damned.
Certainly, any gains in house prices will be absorbed by official carrying costs such as property taxation, more regulatory and utility fee increases,,, the very reason for the Fed induced price supports from the get go. Direct bailouts of States and Municipalities makes for embarrassing headlines.
And, no, renting is not an escape. Rents can easily be price supported by Section 8 increases, distorting market rents to the upside. This also pleases not only all the mom and pop landlords out there, but the single fastest growing landlord sector, Wall Street. No skin off the nose of the Section 8 tenant, but the minority, the out of pocket renter, pays the freight.
Interesting. The Individual being the world’s smallest minority, yet .govs universally attempt to crush him in the name of equality?
Brave new World?
Looks like we’re going to need some amnesty to line up 25 million new household formers at the Fannie Mae FHA money dispensaries, and to help out the present crop of incumbents this election year. Might even fill some zombie properties so even more can be be built in preparation for the Crackup Boom which is sitting on the launch pad awaiting ignition.
Since forever is considered one 4 year term in the eyes of most pols, why should they worry about the consequences of the increases in population growth upon the existing citizen population and resources.
The more dependent voters, the better for them. As long as these new dependent voters don’t have access to the passwords of the gated communities in which they reside, the elitist pols will be fine with their new constituency, and will be handsomely remunerated by their Central Banking affiliated sponsors.
Yet, still, one can hear cries from a marginally oppressed populace for their politicians to “do something.” Really, haven’t they done enough already? How much more micro management can humanity and it’s once vibrant market based economic system endure?
Stockholm Syndrome ?
Might be time to short the Euro?
Might be time to short all currencies. When has it not been, these last many decades?
Oh, I forgot, only energy, food and shelter have become more expensive. All luxuries, right?
Humm, where is the “War Parties’ ” bread most buttered?
https://www.statemaster.com/graph/mil_def_con_exp-military-defense-contracts-expenditures
Neocon Neolib, who’s sitting on the various Senate and House defense, banking and appropriations committees?
Red/blue paradigm? Or follow the money and power?
At this point, war is in the best interest of the Worlds ever more exposed political Ruling Elite. Has anything really changed in that regard, other than said exposure? Think scorched earth.
Though destruction of living standards is generally caused by .gov through it’s function as protection racketeer and keeper of the currency, war is a plausible excuse for the suffering brought on by it’s corruption. A grand diversion.
In light of this thought, Inflation/deflation worries are moot. Survival is becoming more the focus of concern. These crazies all have cushy bunkers to run to, and many of these narcissists quite possibly believe they could survive a nuclear holocaust.
But, I can’t imagine sitting down to dinner in that hole with Pelosi, Reid, Boehner and McCain every night for 20 years, as they wait for the surface to cool.
“GET OUT! You’re not all going to be among the 1% of people who beat the markets.”
Certainly, there is going to be no “rotation.” The Central Bank manufactured electronic money in these schemes will simply vanish. Or, put another way, do not play games for money that you don’t fully understand, unless,of course, you are a gambler.
Can’t imagine a “World Government” either, anytime soon. National constituencies are too fond of democracy for that to happen, along with the Internet Reformation creating new avenues in the opposite direction,,,ones of empowerment at more local levels.
Even if a World governing body evolved into something viable, it would most likely be efficient at only one solution to the problems mentioned above, population eradication/control, at which central planning has so many times in history proven it’s mettle.
As for LEAP, been on that page long enough to classify it as “average” in the doom-say department. No, I don’t see this quite as conspiratorial as I do Machiavellian-gone-haywire.
Like, the Princes were absent the day the lesson turned to cat herding. Especially in this info age in which cats have so many alternate opinion formation choices available just a couple clicks away.
I’ll posit, this mad scramble for survival taking place by all power centers isn’t as well orchestrated as some might imagine. In my estimation it more resembles a war, in that, in the beginning, intentions were noble and consensual, but the strategy was taken over by the random and unknowable forces all wars follow as they develop a life of their own. “The best made plans,” and all that.
The power that rises to the thrones of Central Planning is most always psychopathic, but if today’s highly placed egos sprouted consciences and took an objective gander at this clusterfuck we all find ourselves in, they included,, do we suppose they might have done crisis management a bit differently, say, if they could be transported back 6 years, or even a few decades?
Did Adolf and Franklin and Winston and Hirohito know the outcome when they all climbed into the ring together? Did the millions of innocent players who perished in the storm?
So, yes, the road to hell is, as usual, paved by our great anointed leaders. Still, I gotta wonder where the revolution is?
Thank’s all for enlightening to the work of Marquez. I’ll put all this financial turbulence back in the box for a while and give him a read. It will all pass anyway, given time.
Ilargi ;
Why, you ask, do you write if everyone reads The Telegraph?
You must write BECAUSE too many read the The Telegraph!
One mind at a time.
Carry on.
Holding the bag is what retail investors do best, maybe because so few comprehend Tail Risk, that monster that eventually mashes the most enthusiastic of “Believers.”
True, timing rigged systems is tough, but some Fat Tail event will throw the most astute trader and best manipulator for a loop.
And it sure seems quiet and complacent out there. Perfect conditions for surprises.
Relax, the Kings and Queens of Authority have our backs. Just a little longer and the debt they tell us doesn’t matter will be rendered negligible by the biggest money blizzard in history.
They have come too far to let go. And they have managed to keep it humming along for 6+ years now, exponentially destroying market functions as they go.
All the Taper talk was for the benefit of friends of the Fed, for trading purposes. Must fund the Banks at any cost. The Crackup Boom will go on at an ever accelerating pace.
Then, when prices begin to rise at double digit rates, a big fat consumption/carbon tax will be used to mop up, and grant .gov control of the means of production. That will mark the end of Empire. They all end this way.
I just can’t imagine any “revaluation” (deflation) of an unbacked debt currency, one that can be created in limitless quantity, being allowed by it’s owners.
What the hell is this guy saying?
“I don’t see a major bubble right now, but one will form as we are trying to remove the accommodation in the years ahead,,,”
Hey Bullard, a bubble WILL be formed by you apparatchiks in the Fed as an excuse to remove accommodation, as is ALWAYS the case with Federal Reserve Policy. Coming from a Central Planner like you, this grates as bad as your philosophy that “Inflation can be too low.”
Lord forbid, everything gets more affordable for the lower classes. That’s just not equitable for you, is it?
Beam me up or, some way, just so it’s outta here!
War? Humor me, here;
Crux is, TPTB need a diversion about now. A reason to declare “Government by Emergency,” whereby they try and save what’s left of their authority in this ongoing meltdown.
War is just that diversion.
A big question is, will they go full assured mutual destruction retard, or will they attempt to somehow “control” the use of the Armageddon Apparatus’ they have at their disposal? “Political Scientists” and control? Ha!
War is always intended by the instigators of it to achieve an agenda. But once begun, the end result is never predictable. Especially given today’s military machinery.
For certain, instigation of such insanity for the purpose of diversion is, at the least, a losing proposition, the diversion being the goal, rather than the consideration, or even slightest inkling of the potential death and destruction that lies beyond it.
Oh well, nice that they all have multi year underground survival facilities in place and ready for them. Eases the burden of choosing the magnitude of the event a bit,,,on their part.
And one could be led to think a massive human die off wouldn’t disappoint a few “Peak Everything” advocates in some circles. Sure hope their “Dear Leaders” leave the light on at the bunker for them.
But, hey, hand over ” Climate Change” to .gov, and you’ll get a Nuclear Winter?
Raleigh, ” Who’s benefitting? Those who can borrow first at next to nothing.”
Ah, yes, this is how all great inflations begin. He who spends it first gets maximum benefit. Those buying into real goods will look smart in a few years.
Hard part is knowing when these things have overshot reality. Especially when the value of the debt currency is so difficult to determine, with price discovery mechanisms now rendered dysfunctional by the State.
When one stops and ponders, what alternative is there for depreciating cash under such circumstances?
TPTB must be ecstatic. They have nearly achieved their “State Controlled Capitalism” (Fascism) dream, as he who controls the currency controls the means of production,,,for a while anyway. Of course, when it all fails to produce, and collapses, we won’t hear a peep from them.
Hard to figure the Worlds Central Planning Central Banks won’t have several new bubbles going before they pop the one of the day. Certainly an advantage ol’ Chuck P. never had?
I mean, look at the Fed’s recent performance. They have fine new bubbles going in Real Estate and Stocks again, with a Bond bubble thrown in just for ducks.
Humm, is a new Precious Metals bubble on the horizon? Been a while.
It’s strange, this working within a closed government controlled international monetary system, as an investor. It is easy to fall into the “Fed-say” trap, rather than the age old mean reverting fossilized fundamentals .
Mean reverting financial markets, as well as political environments. I wonder, could it be some of those founding “fossils” had some pretty damned good ideas in philosophies regarding the principals of self governance?
In the end, Ron is right. It will be individuals and their penchant for freedom of association , that will prevail. Even if it must be on side streets, in back alleys and pool halls.
Keeping the powder dry ’till then is the responsible thing to concentrate on.
Typed on a static charged iPhone, my excuse for any errors or omissions.
Ever wonder what would happen if Banks were cut loose from all State control, protection and regulation, and were forced to perform for their customers for a living? And if they didn’t, their customers would simply vote with their feet, and leave ’em destitute?
Ah, but that would require honest money. Money uncontrolled by politics. Money that would retain it’s value in the hands of the people. Money the Banks would need to compete with each other to be entrusted with. Money, in order to be entrusted with, governments would need to actually perform.
It will happen with or without the blessing of TPTB. The more obstructions erected against grass roots shadow economic activity, the harder they clamp down, the more of it will necessarily occur.
I can only imagine the subsystems cropping up in places like Argentina and Venezuela as authority continues it’s assault on economic freedom of choice.
Not hard though, after experience in a war torn nation, witnessing street exchange rates established between local currencies, gold, the dollar and military payment certificates. The “official” window resembled the Maytag repairman’s office, and with the street vender, one might have had to take a number.
Dang.
Banks bending Austrian, and now this?Sea Change?
So, 99.9% chance it tanks? Wonder what percent of that constitutes the 66.6% of statistics that are false or misleading? But, permabears are right 1 year out of every 7 or so.
Of course, no one calculates the constant devaluation of currency into the numbers. I mean, could we suppose the S&P has actually remained at 2009 levels, it’s just the depreciation that has jacked the number?
Yassir,
there is definitely something in the air this weekend. Petagrams, pentagrams. Think I’ll stick with plantagrams. Least I can eat the end product.
Things in the air, for sure, a lot of Jet-A being consumed by the Warmist DoD and POTUS at the Airshow at the Marine base this weekend. Must be CO2 Exempt? With AlGorrythemic CC paid protection. Good for the garden, too.
Of course the stimulus (free and cheap money and credit) has gone to the little guy as well as the top. Had the .gov/Fed not gone full retard with printing, new credit creation and sweeping toxic paper under the rug, unemployment would have gone to 50%, the over indebted would have defaulted, imprudent banks would have gone bankrupt, profligate local, state and central government payrolls and benefits and deficit spending would have all been defaulted on, as they filed bankruptcy and,,, well,,, we would now have been well on the road to real recovery, as those who have lived within their means, and the productive, joined in rebuilding a better world.
The masses who feed on government largess would have been sent back into the private sector in competition for jobs and subsistence, driving the costs of redundant labor lower, repricing the artificially low value of scarce commodities, dropping taxes, bringing on deflation, driving up the value of the dollar, increasing the spending power of the very people who are now suffering.
But, naturally, the unwashed would have never stood for it, all the while believing their elected officials know much more than all the markets players, so will “mandate” Shangri-La for them, given enough devaluation, destruction of purchasing power and redistribution.
As in everything, there is natures course, and there is the course of egotistical, know it all, and in most cases ill advised egalitarian, authoritarianism. Therein lies both the problem and assurance of it’s continuation.
Default, and rebirth, or destruction of the currency resulting in societal collapse. The choice was made.
The governments of the world will not relinquish power back to the people now. They will attempt to take it down with them. Unbeknownst to them, the real core is the individual, and he will not invite Con-gress to join him for dinner when there is no longer enough to go around.
And no, I don’t believe the collectivism of government run programs is the answer, because, when something belongs to everyone, but no one in particular, no one gives a damn about it. So, off it morphs, into an empire building tool of the few elite who run it.
I believe it’s all here,
And here,
https://bastiat.org/en/the_law.html
But, alas, no one will read it. So, carry on. As with any Ponzi, most will carry their belief in their rulers to the poor house, or gulag, with them.
It all ends with the dependent setting on the curb, hands outstretched, and the prepared behind the scenes offering what they can spare.
Do, at least, read Bastiat linked above, please? So I have someone to talk to about it.
The Fed was a “Political Solution.”
Since 1913, too much ever depreciating currency chasing too finite a source of resources. Spend it or lose it?
The only solution to this mess is, revalue finite resources in real money again. The only way that can happen it to put the source of money back into the hands of the people, and let “The Power” hold a bake sale when it needs money for it’s wars and it’s grand vote gathering social engineering projects.
There is no limit to growth of fiat monetary systems. They expand until they implode. This one is no different.
Maybe we should just get China’s Central Committee to come over and fix this all, by simply setting our GDP at 7.5% too?
Monetarists, every damn one of ’em!
It’s not the inevitable end result of all this that grates.
It’s the waiting!
From another site I enjoy, this today, as supplement to my Climate ranting above;
Kerry's Climate Change Priority Signals a Revitalized Warmist Meme?
Jeeze, even the weather is political now.
ted,
couldn’t agree more. Seems everyone has a bridge to sell these days. In the end, I believe those who can deal with the present, however it unfolds, and can think on their feet, will be OK. The past won’t repeat the same way, and the future is blind.TAE has evolved in a very enlightening way, (H/T Ilargi) and seems on an open minded trajectory,,,open mindedness being vital to critical thought processes needed to survive and thrive in uncertain times.
