I hope it’s ineptitude. The other interpretation is that they are deliberately trying to destroy the economy.
Just remember who holds a tremendous amount of our paper and has a desire to buy up to 1/2 of Morgan Stanley.
Hint: After eating their food you will be hungry an hour later.
What an idiotic statement.
I don’t know if they have much choice at this point. The damage was done by the democrat inspired deregulation back in the 1990s. This disaster didn’t just emerge overnight; it’s been brewing for a while.
We can absorb the losses and try to maintain some stability in the financial markets, or we can just crash and burn.
We may not like having to drink poison, but at least we have our choice.
I bet on the later, deliberately destroying the country.
Top dog in many ecologies goes to the most ruthless dog, until some natural forces balance things out.
If a ruthless real estate investor were planning to make a killing on a bunch of properties in a town, they will first seek to slam the prices into the ground, by doing such things as self-dealing at below market prices, driving out other more honest investors, and scaring the locals into selling at any price.
Similarly, on the long side, they can drive prices up by self-dealing (selling the same property to their accomplices at increasingly inflated prices) and spreading much hype and marketing B.S.
Whomever plays that game the best, for the biggest bets, wins.
We are witness to such games being played out in the economy of human civilization. With the incredible expanse of a worldwide economy, industry, communication and shipping over the last century, a new world wide economic arena has opened up, like none known before to mankind. It's like any new frontier -- the thugs will have their successes, and it will take time (perhaps centuries) to civilize this new world. Likely, first, we will see periods of excess tyranny, world wide, before a balance respecting human freedom, prosperity and well being is found, in this global arena.
It's not that the thugs ever entirely control the flow of events; but they play off external events better, meaner, luckier than anyone else.
Human fear and greed, like any untamed animal spirit, will grow increasingly large and dangerous, until some larger force prevails.
We live in interesting times.
” The other interpretation is that they are deliberately trying to destroy the economy.”
I’ll take door number two. Except, IMO, it’s being done in order to make the Amero and North American Union an easy sell. When it happens, can I say I told you so? ;)
With all that has been transpiring of late with Washington, I've actually given this some considerable though via interpretation too.
Others may call it "wonder".