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Tag Archives: banks

David Stockman says we’re headed for a dramatic crash “but especially in tech.” (Video)

The interviewer rightly points out that Stockman has been calling for a crash for a long time. In March he announced to the world that a crash was imminent and that he was entirely in cash. The market has been up dramatically since that call.

But fundamentally Stockman is right. All the money created by the world’s central banks is floating around out there in financeland (it might not have found its way into YOUR pockets but many Wall Street pockets are full) and that money is tinder just waiting to catch fire.

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Is Keynes Misunderstood, Maligned By Critics?

In a September 11 Bloomberg article, economist Noah Smith claims that John Maynard Keynes, the architect of today’s government economic policies around the world, wasn’t a “‘socialist’” or even a “‘progressive.’” He did not favor “a command economy.”

Yes he “was in favor of some amount of wealth redistribution and government intervention into the economy.” But “Keynesian policies are fundamentally … about economic stability,… about smoothing out the fluctuations in the economy, reducing risk for everyone concerned.”

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