Those who believe the economy is recovering are ignorant of the
facts. Other than the Great Depression no US recovery (and I don’t
believe we are in a recovery) taken longer. Eventually it may take more
than a decade like the 1930s. Or perhaps it will be like Japan which is
in its third decade of “recovery.”
Politics and Economics
The truth is that our economy is spent, exhausted and filled
with misallocations and distortions made much worse by government
interventions. There is no recovery, nor will there be one
until a massive purge (usually referred to as a depression) occurs. This
event will result in bankruptcies that release scarce, misallocated
physical capital from unproductive and unwanted areas to places where it
is needed and can be utilized efficiently.
Rather than allow this pre-condition to an economic recovery and a
growing, efficient economy, politicians want to prevent it. They use
smoke, mirrors and propaganda (lies) to hide the reality of our sick
economy. Their obfuscations continue, but the effective life is limited.
What politicians do to the country beyond their term in office means
nothing to them. Their concern is only for themselves and the short-term
that exists between elections. As a result they rob from the future to
hide the true conditions of the present. Those still unborn will be
paying for their criminal economic charade.
No comments:
Post a Comment