Trillions wasted on gimmicks–real world emaciated by investment drought

Since 2007, Central banks and governments have been like reckless dam operators indiscriminately flooding good money after bad through global asset markets. All of this has been added to the debt tab and diverted capital from substantive investment in things needed to support productivity and efficiency in human life. The US national debt has nearly doubled in the past 8 years, along with staggering leaps in corporate, auto, student and all other types of debt, in pretty much every country in the world. While trillions are wasted on gimmicks, the real world weakens through an ongoing investment drought.  This is bringing an abrupt end to the most recent era of globalization as explained by Desai on Bloomberg this morning.

Meghnad Desai, emeritus professor of economics at London School of Economics, discusses the global turn against globalization and free trade agreements. Here is a direct video link.

As vapid in content as Trump generally is, on the topic of using debt for infrastructure spending, rather than financial gimmicks, he is actually quite lucid. See this clip.

Republican presidential nominee Donald Trump weighs in on the negative impact of low rates on the market, and the doubling of the nation’s debt.Here is a direct video link.

This entry was posted in Main Page. Bookmark the permalink.