The Soapbox

EAPo

Joined: 08/14/1998 Posts: 1097
Likes: 947


Americans are going to lose money/jobs/standard-of-living for one reason...


...and one reason only: Central planners couldn't restrain themselves in '08-'09 and limit themselves to merely ensuring an "orderly" reset of the financial system, believing, instead (and oh-so-incorrectly) that they could forestall a reset completely. While they have arguably "succeeded" in that regard so far (at least if you measure "success" by the level of the S&P 500 and other stock markets), the foundations of the world economy, in particular 1) the health of the middle classes and 2) willingness of financial institutions to invest in truly productive ventures (i.e. not just in financial instruments or in "carry" trades), have been ruthlessly undermined, with damage adding up daily on both fronts. Ultimately, there will be a denouement, and it wont be pretty. In other words, they sold the car crash and bought the cancer. To the extent we get a "crash" or any other systemic financial pain (and, again, this is assuming you don't consider the current economic situation, as I do, to constitute "pain") it will at root be the result of this dynamic, and not because of "Brexit." Brexit is, at worst, just another symptom and, at best, a "start" for the masses in throwing off the bonds of central planning and ruinous (some would say "Keyensian"-- though I think even Keynes has been co-opted here) economics.

(In response to this post by WahooRQ)

Posted: 06/27/2016 at 4:41PM



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Current Thread:
 
  
Why Brexit may never happen. (link) -- Hoogle.com 06/26/2016 4:03PM
  I expect Johnson to step up to the plate -- Quaker 06/26/2016 6:45PM
  Keep Hope Alive ** -- TpkeHoo 06/26/2016 6:32PM

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