Into the Maelstrom, and a Refuge on the Far Side
For the past few weeks I’ve let the news headlines speak for themselves, but I now feel convicted to comment on the deteriorating economic conditions. The global economy in general, and the economies of the English-speaking nations in particular are in deep, deep trouble. A massive credit bubble has popped, and all efforts to re-inflate it have failed. National congresses and parliaments, are throwing trillions at the problem, but they have done no good. The policy wonks in government, and their cronies at the central banks are essentially clueless. Their uniform reaction to each failed “stimulus” policy seems to be: …