A major warning from the most reliable bellwether of the world economy
Good links there!!! I like the one how Alberta is suffering mightily as oil/energy prices plummet. I used to think that natural resource based economies like Australia and Canada were bullet proof. Both currencies are down 25-30% from two years ago.
I hear home prices are still insane in Australia. Due to Chinese/Asian buying perhaps?
These people will never understand Economics and will continue to make the situation worse until lit collapses utterly.
Keynesian "macroeconomic controls" and "fine-tuning" are analogous to putting a new AB at the helm of a huge container ship. He has his course set for him. He just has to keep the vessel proceeding in one direction as shown on his compass. When it drifts off a couple of degrees he puts the helm over a tad to correct. The ship seems not to respond so he puts it over a little farther. Still the ship doesn't respond so he puts it over a lot. Finally the ship starts to ease back toward its assigned course, The ignorant pilot centers the helm as the vessel's turn reaches the correct course. But the ship continues to turn 1 degree, 5 degrees past the proper course so the pilot puts the helm back the other way and as the ship apparently fails to respond he becomes frantic and puts it over farther and farther until the ship finally begins to respond. Finally the great ship is making ever greater S-turns on the surface of the ocean until the ship hits the rocks or another ship and founders.