Tuesday, December 29, 2015

FIVE THINGS YOU SHOULD BE VERY CONCERNED ABOUT............

FIVE THINGS YOU SHOULD BE VERY CONCERNED ABOUT

Central banks have accomplished five things, none of them good for the average citizen or our economy:

Brought demand forward at the expense of future GDP

Encouraged more leverage and increased debt levels

Increased speculation in financial assets

Created bubbles in equities and bonds

Mistaken economic activity for malinvestment

The solution is not more of this insanity, but rather an admission that central banks are themselves the source of the problem.

Of course Keynesian fools would never admit such a thing. 

Powerful economic illiterates don't admit they are wrong or resign, they just keep promoting policies that both common sense and history show can never work.

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