Quote:
Originally Posted by McLovin
https://lawliberty.org/skewering-the-pretense-of-knowledge-in-the-financial-realm/
Like 08, immediate collapse is avoided (the can is kicked) but as you say, nothing is fixed, and in fact the “fix” just sets the conditions for the next, bigger crisis.
08 was a drop in the bucket - child’s play - compared to what the govt did the last year (and has continued and continues to do even with an effective vaccine in place) in response to a virus with a 99.x% survival rate.
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It is hard to disagree with what one has already postulated since 09. .
I disagree with the culpability of the FED..
.they act in response to.....to maintain an equilibrium. In other words to mkt conditions..and policies. The ultimate responsibility for Americas current fortune is the American people themselves
which includes the policy makers etc as a subset.
The FED did not create the inflation of the 70's...the LBJ inspired policy of "GUNS AND BUTTER" sic fighting a war in Vietnam and the GREAT SOCIETY..all at the same time...created an environment of OVER SPENDING....
Americans gradually after WW2 thought they could have it all with out consequences because they were so rich. It just took a few years to reap what we had sown.
We are now reaping the consequences of living beyond our means for the last 53 years (1968). The American people have been living on BORROWED MONEY since the 1980's. Nothing is going to fix this problem. The resolution is to eat the shyte sandwich, and I hate to say it there is no short term recovery as
the scale of the debacle is globally inclusive..It is a global plunge into chaos.
I have lived in a state of chaos for a good portion of my life..so I know it when I see it. There is little to no continuity now...we are in a state of chaos now. With the overlaying fiction which fewer and fewer people are believing that thing are continuing on as before... Anybody want to contradict that statement I have a long list of chronological events that would indicate otherwise.
So the facade of stability remains somewhat, but behind the scenes holy shyte it is desperation born of complete wreckage of a system.