3 ms·
No, let's blame the real culprit, ignorance. 1. Using 19th century trade implements (tariffs) to wage a 21st century trade war was a dumb idea. 2. Bernake and
by stillbourne 7y ago
No, let's blame the real culprit, ignorance.
1. Using 19th century trade implements (tariffs) to wage a 21st century trade war was a dumb idea.
2. Bernake and Powell did too little to raise interest rates higher. While it would have been painful to do so, not doing it will make the next recession more difficult to weather and will likely compound recession with a liquidity crisis.
3. We have learned nothing from the last 40 years of boom and bust and are to scared of to end laissez faire capitalism to prevent it from happening again.
4. Because economics is not taught or is taught poorly the general public don't understand the difference between debt instruments and debt. They then shout ignorant stupidity into their favorite echo chamber and when it echos back they nod in agreement. When their idiot politicians repeat these dumb ideas back to them later they can do nothing but nod their heads in unison and cast their vote for another idiot.