| | | | That's true. Both the GOP and Democrats are Keynesian. We're all Keynesians now, like it or not. But what did you expect? When the people are offered an easy palliative, it's too tempting to forsake it for the harder medicine that is required. Free markets have ups and downs. No one likes the downs. In a Keynesian world we get these false low volatility world followed by massive crises, with perpetual low growth and a destruction of the middle class and poor, while we pile on debt and systemic financial fragility, and somehow we've all been fooled into believing that is better. The Fed really is the epicenter of not just the US, but the global economic disease. The Chinese are playing the same games, but they've taken it to new heights of madness. At the end of the day, though, everyone follows the Fed, because they all believe the US is smarter. Turns out, we're the blind leading the blind and we only get away with it for longer, because we have the reserve currency. I wonder how long that will last. |
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