CLEARLY THE VALIDITY OF KEYNESIAN ECONOMICS WILL BE TESTED...VERY SOON....
BERNANKE IS THE ULTIMATE KEYNESIAN NOW... AND HE WILL EITHER BE A SAVIOR ... OR THE MADMAN IN ECONOMIC HISTORY...
THE ESSENTIAL PROBLEM IS THAT BERNANKE IS PRINTING MONEY FOR THE GLOBAL ECONOMY...NOT THE US ECONOMY...
THE SECOND PROBLEM IS THAT NONE OF THE MONEY IS TRICKLING DOWN TO THE AMERICAN CONSUMER...WHO IS THE KEYSTONE OF CONSUMER CAPTIALISM...
THERE IS SOME HOPE THAT THE CHINESE AND OTHER CONSUMERS WILL "STEP UP" AND TAKE THE PLACE OF THE AMERICANS...BUT THERE IS LITTLE SIGN THAT THAT IS ACTUALLY HAPPENING YET....
AS TO THE US ECONOMY...ITS A ZOMBIE...ITS AMONG THE UNDEAD...
WHAT BERNANKE IS TRYING TO DO IS "JUICE" THE ZOMBIE AND MAKE HIM DANCE AGAIN... IN SHORT RESTORE THE BUBBLE ECONOMY...
IN THE PROCESS ALL CAUTION HAS BEEN THROWN TO THE WIND...
THIS THING EITHER WORKS OR WE'RE FUCKED...BUT MAYBE WE WERE TOTALLY FUCKED FROM THE START OF THE DEPRESSION...
THE PROBLEM IS THAT YOU CAN ONLY "DEFIB" THE ZOMBIE SO MANY TIMES...BEFORE ...ALL YOU HAVE IS A FRIED ZOMBIE...!
ONE THING IS CLEAR....BERNANKE WILL NOT QUIT QE...NOT NOW NOT EVER...IF THERE IS A MASSIVE HYPERINFLATION...SOMEDAY...IT WILL BE TOO LATE TO STOP IT...
QE IS A BLUNT INSTRUMENT... YOU CAN'T EXPECT TO MAKE A WATCH WITH A SLEDGE HAMMER...
KEYNES WOULD NOT RECOGNIZE HIS "THEORY" IN ITS CURRENT STATE...
BUT BERNANKE HAS NO CHOICE NOW... ITS PRINT OR COLLAPSE...FOR THE CURRENT INCARNATION OF THE GLOBAL ECONOMY.
BERNANKE IS THE ULTIMATE KEYNESIAN NOW... AND HE WILL EITHER BE A SAVIOR ... OR THE MADMAN IN ECONOMIC HISTORY...
THE ESSENTIAL PROBLEM IS THAT BERNANKE IS PRINTING MONEY FOR THE GLOBAL ECONOMY...NOT THE US ECONOMY...
THE SECOND PROBLEM IS THAT NONE OF THE MONEY IS TRICKLING DOWN TO THE AMERICAN CONSUMER...WHO IS THE KEYSTONE OF CONSUMER CAPTIALISM...
THERE IS SOME HOPE THAT THE CHINESE AND OTHER CONSUMERS WILL "STEP UP" AND TAKE THE PLACE OF THE AMERICANS...BUT THERE IS LITTLE SIGN THAT THAT IS ACTUALLY HAPPENING YET....
AS TO THE US ECONOMY...ITS A ZOMBIE...ITS AMONG THE UNDEAD...
WHAT BERNANKE IS TRYING TO DO IS "JUICE" THE ZOMBIE AND MAKE HIM DANCE AGAIN... IN SHORT RESTORE THE BUBBLE ECONOMY...
IN THE PROCESS ALL CAUTION HAS BEEN THROWN TO THE WIND...
THIS THING EITHER WORKS OR WE'RE FUCKED...BUT MAYBE WE WERE TOTALLY FUCKED FROM THE START OF THE DEPRESSION...
THE PROBLEM IS THAT YOU CAN ONLY "DEFIB" THE ZOMBIE SO MANY TIMES...BEFORE ...ALL YOU HAVE IS A FRIED ZOMBIE...!
ONE THING IS CLEAR....BERNANKE WILL NOT QUIT QE...NOT NOW NOT EVER...IF THERE IS A MASSIVE HYPERINFLATION...SOMEDAY...IT WILL BE TOO LATE TO STOP IT...
QE IS A BLUNT INSTRUMENT... YOU CAN'T EXPECT TO MAKE A WATCH WITH A SLEDGE HAMMER...
KEYNES WOULD NOT RECOGNIZE HIS "THEORY" IN ITS CURRENT STATE...
BUT BERNANKE HAS NO CHOICE NOW... ITS PRINT OR COLLAPSE...FOR THE CURRENT INCARNATION OF THE GLOBAL ECONOMY.
