Listening to a panel of self proclaimed financial "wizards" on Bloomberg, at the end of the day one is left with the distinct feeling that a troop of baboons pinning the tail on the global economy donkey would have as much chance of getting it right.
The same old, same old previously failed solutions are dressed up as the 21st century model. Cutting interest rates to the bone? Have they ever heard of Japan; they've been doing this for two decades plus and still Nippon Airways is standing at Gate 13.
Then of course the wheeze of printing money; first tried by a very desperate Germany between the wars; and that too didn't quite work, did it? Not unless you think the price of a loaf of bread rising faster than the speed of light did the trick.
The Yanks have around $20 trillion dollar debt; and in the good old days starting or joining a biggish war used to be part of the solution; near full employment and plenty of gravy for most, but even that doesn't work anymore.
When Capitalism looks more like Las Vegas and the Prophets of Finance have as much cred as the Greek Oracle of Delphi, it's pretty safe to say we're clueless and potentially fucked.
The same old, same old previously failed solutions are dressed up as the 21st century model. Cutting interest rates to the bone? Have they ever heard of Japan; they've been doing this for two decades plus and still Nippon Airways is standing at Gate 13.
Then of course the wheeze of printing money; first tried by a very desperate Germany between the wars; and that too didn't quite work, did it? Not unless you think the price of a loaf of bread rising faster than the speed of light did the trick.
The Yanks have around $20 trillion dollar debt; and in the good old days starting or joining a biggish war used to be part of the solution; near full employment and plenty of gravy for most, but even that doesn't work anymore.
When Capitalism looks more like Las Vegas and the Prophets of Finance have as much cred as the Greek Oracle of Delphi, it's pretty safe to say we're clueless and potentially fucked.
