In Part 4 of this series we introduced the idea that the US is now in a Say's Law Economy, which is being dragged down by a Keynesian ball and chain. That is, the traditional credit channels of monetary transmission are now broken and done owing to Peak Debt and the Fed-induced mutation of the money and capital markets into gambling casinos.
The Great Wall Street/Washington Con Job: Part 5 of The Recovery Which Never Happened
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.