I have to say that I was saddened by Pope Francis’s recent assertion that “rampant capitalism” is a source of many of the world’s ills.
The answer I believe is, yes, absolutely. Frankly I think that some people in Washington were hoping for a crash before now.That they haven’t gotten one has lead to significant consternation.
3D printing is revolutionizing manufacturing already. From food to guns, the old business models are being undermined. Information is spilling out all over the place, information one can now hold in one’s hands.
I have often asked myself this question.
Profits go up with complications after surgery.
The great hope for business leaders and those of the political sort was that China would pull the world out of the greatest economic downturn in 3 generations. This has failed to happen and is failing more with each passing day. China isn’t going to save the day. China has been built on a good amount of economic magic and it needs a correction desperately. It likely has one on its hands though this still is not the official consensus.
ZH reports on Bank of America’s admission that “today’s stock market has lost some of its ability to reflect underlying economic trends.”
Well, no kidding. Even Bloomberg.com is saying officially that the markets are rigged and we investors had better just get used to it.
Some thoughts from the always interesting, sometimes unduly inflammatory, often prescient Max Keiser, on making markets.
Mungowitz, is Michael Munger, professor at Duke, economist, political scientist, Libertarian gubernatorial candidate, and all around great guy.