Trickle down government is pretty much always a bad idea. Pour taxpayer money into giant firms and watch that money’s usefulness evaporate. It warps the economy. It creates inefficiencies and stifles jobs. (Despite what we are told.)
Rickards is a guy I listen to. This is an interesting talk.
The economist offering this “solution” has been feted by the Obama White House economic staff, the International Monetary Fund, and by many of the people running world economies today. His ideas are definitely “in play.”
So are we. Just shocked.
Hey, at least she said it publicly. That’s more than Mr. Bernanke ever did.
It won’t happen tomorrow but slowly but surely the world is moving from dollars. The petrodollar system which has been key to the world economy over the last 40 years is eroding. More and more country to country deals are being done in currencies other than the dollar. The economic world as we have known it, after Bretton Woods in the Cold War Era, the post Cold War era, and the post 9-11 era is fundamentally shifting. The dollar is not what it once was. It is no longer “almighty” and one should be prepared.
The Chinese have poured stimulus on top of stimulus already. An archipelago of idiot central planning projects stretches from the Ordos desert in the north to the lush mountains in the south. High rises reach to the sky but are empty, in the middle of cities which are empty, in a country which is anything but empty.