One of the reasons the developing world continues to be challenged economically (though it has made great strides, especially in Africa) is because rich countries fear opening their markets to the “south.”
By JP Cortez
I grew up a block away from the 7-train, where I’d take a short ride from the 90th Street station to the Willets Point—Shea Stadium station to watch my favorite team, the New York Mets.
Sitting in the stands as a young child, I learned quickly that there were a number of ways to obtain and interpret information.
We have said before that no Fed Chair was ever “free market.” This absolutely includes Mr. Greenspan. His legacy is one of a price fixer, an economic manipulator, a bubble blower, and ultimately one who in many ways ushered in the crony era we live in today.
But as we see in the attached piece from Sebastian Mallaby, Allan Greenspan, the one time “Maestro,” knew better all along. He knew that Fed policy could and typically did destabilize the real economy.
Loaded up and on the way.
“Dolla dolla bill ya’ll…”
Or is it yen yen ya’ll?
No matter, the helicopters are in the air over Tokyo and currency is about to fall from the sky.
Watch military spending in Japan ramp up. This ought to work. We promise. This time. It’s gonna happen.
We have argued for a awhile that 3D printing is going to change the world. (And it has begun to.) But Egypt (or Mauritania) as a manufacturing hub?
They didn’t “shake off” Brexit. The markets, to almost everyone’s surprise – including Brexiteers – celebrated the UK’s independence.
There is a sense that the lock down the establishment banks and governments have had on things for years and years has broken down. Markets are taking in the oxygen. It’s real air too, not central bank created life gas.
Markets go up and down (at least they used to) and any future dip will probably be blamed on Brexit by some.
Funny how socialism makes one appreciate the finer things in life, like simple price discovery.
Back when the market was a market.
We are in the midst of a giant, and unprecedented experiment in monetary policy. Central banks around the world have inflated asset prices in an effort to create a “wealth effect.” What they have created is a situation where those with assets, the rich, have done extremely well while the non-asseted have had to watch while life has gotten harder.
This asset inflation is not sound however and the “wealth” it has created is illusory.
Venezuela is seeing some challenges. But this is what happens when planners try to deny the natural tendency of prices to ebb and flow.
For a pro-free enterprise site we are pretty nice to Bernie Sanders. We respect the dogfight he’s in right now and he’s an interesting guy. But…Well, we’ll let Tom address some of the issues.
If you comment on this one please watch the entire video.
The universe has patterns. Either go with the flow or pay later. Looks like we are “paying later.”
A serious recession would be terribly trying particularly in light of the geopolitical jockeying going on right now. Acute financial pressure, and it is already acute in some parts of the world, makes for instability. Leaders do stupid things when countries are in economic pain.
Sure, “European banks.” All banks.
People in America are just plugging along seemingly oblivious to the storm which continues to gather strength overseas and in some cases is already buffeting the United States. It is foolhardy. We have just gotten used to the new post-2008 lower standards of living in this country and we want to think that the global depression which started in 2007-2008 is all over. It’s not.
Will the world go to hell in a hand basket tomorrow?