The grand experiment is failing across the globe. Abe threw the Keynesian Hail Mary pass when he came to power. Now the ball is just bouncing around in the end zone, pathetically.
We are sorry to see Senator Coburn go. And for this site to say that about a politician is pretty rare. Coburn did what he could to bring attention to a bloated Washington DC.
Was he perfect? No. But he definitely was a friend of the taxpayer as is exhibited in the below report. He calls Boehner out by name and explains that the House Speaker lied to the American public about the amount of spending in the recent continuing resolution.
If you want to see what happens when the Keynesian virus truly takes hold of an economy and a society check out Japan. The once juggernaut of economic power, The Land of the Rising Sun, is now a great example of economic and social zombification as Charles Hugh Smith illustrates below.
It took 1 generation.
Why do you think?
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.
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.
Granted it’s a metals company. But this is a trend which is quietly spreading around the world.
There was a time when a bachelors degree was something pretty special. It was unusual for people to have one. Though still only 30% of the adult American population has a 4 year degree that is a lot more than in years past. More prosperous years.
Graduate degrees are also more common. Practically a whole generation has tried to wait out the Great Recession in college.