-——change must be systemic——
My view is that we have experienced a systemic change already but not the one of going Galt. Rather than drop out and leave, a choice not available to public corporations, they have ceased the incessant market driven requirement to grow.
The present corporate strategy is static and profitable rather than dynamic and risky. Cash is for keeping rather then investing in hoped for growth.
>> The present corporate strategy is static and profitable rather than dynamic and risky. Cash is for keeping rather then investing in hoped for growth....<<
You are correct, it is a “going Galt” hybrid plan but it’s being done for the same reasons. This is why so much “cash is on the sidelines” and why Bernanke remains clueless as to why. He, like all academic theoreticians, does not understand the motivations and preservation instincts of companies, public or private. Flooding the system with money has not dulled those instincts like he thought it would.
The present corporate strategy is static and profitable rather than dynamic and risky because the feds have taken all the reward out of the risk/reward equation. It’s all risk and punishment. So why participate?