Other Side Quote of the Day: “Dear planet, we’re sorry. Please just hang on for three and a half more years and we’ll fix this. We promise.” – Senator Chris Murphy (D-CT)
Quote of the Day: “The extraordinary thought disorders of this moment in history are equally distributed across the political spectrum. They’re an inevitable product of what Sigmund Freud identified as the discontents of civilization, but they grow especially acute as that civilization enters an economic crack-up zone. The craziness is equally distributed while the nation’s wealth is not. The old middle, or center, is imploding both economically and psychologically, concentrating distortions of reality at each end, Left and Right.” – James Kunstler
Quote of the Day: “To act on the belief that we possess the knowledge and the power which enable us to shape the processes of society entirely to our liking, knowledge which in fact we do not possess, is likely to make us do much harm.” – Friedrich August von Hayek
Sometimes I receive feedback to the effect of “I like your economics and market news but not the politics” or “Why do you talk about politics?”
The reason is simple: our current world has run to a quasi-Fascist model. It does not matter if you live in China or the United States or Germany or Tunisia – government policy, legislation and action are driving the markets. That includes the employment markets, wage markets, the equities markets, the credit markets, the commodities markets, real estate markets, all markets.
An actual free market and an actual capitalist system is a thing of the past. That is the reality of the world you live in. As a result it is impossible to separate the politics from the economics when all of the economics at its’ base are being centrally planned by the politicians or bureaucrats somewhere.
That being said, one of my primary goals is that an actual free market and an actual capitalist system is a not just a thing of the past but a thing of the future. I am an advocate of the free market and a capitalist system. I am unapologetic about that.
If you do not like the fact that it is now impossible to talk about economics without also talking about politics then you ought not vote for those politicians who believe that the economic system should work as the politicians dictate and direct. I understand a great many people prefer to live in a world created by politicians. I do not have that preference.
I will continue to make the connections between policy, legislation, regulation and economic outcomes. If that is a difficult thing for you to swallow, suck it up buttercup. It will not be getting any better in the near future.
Other Side Quote of the Day: “your kids are gonna die from climate change after we pull out of the paris climate deal too!!” – Vice News editor Chelsey Coombs
Quote of the Day: “The empire could no longer afford the problem of its own existence.” – Joseph Tainter