As the market continues up – and may continue to go up – voices like Faber’s increasingly sound like the voices which warned of the impending housing bubble crash circa 2006-2007.
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.
I’ll bet that’ll be a fun return.
On the surface this ruling sounds like a win for “workers,” but sadly it’s not. If the government can keep businesses from firing people, indeed in this case force CNN to REHIRE fired workers, businesses will simply choose not to hire new people.
My bet is that it’s higher than this actually. And by “survive” it appears they mean to actually “survive.” That is scary. Credit is a helluva drug.
John Aziz is the economics and business editor at The Week. I have to say that I at one time considered buying a subscription to this publication. Having just read Aziz’s piece, where he argues that bubbles are perfectly natural things which sometimes are good, I am sure that The Week will not be finding its way onto my Kindle.
“My wife said she didn’t know the lactose industry was so intolerant.”- Rep. Thomas Massie (KY)
In the attached article Glenn Reynolds examines the new, increasingly stratified America.
No matter the political weather the lobbyists always know how to make it rain.
The method below is a great way for Washington to make money. Don’t outlaw something completely. Make sure there are exceptions in the law which companies and other interest groups must then hire counsel to navigate. K Street gets paid and the politicians still look like they are “doing something.”