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Ronald Reagan is credited for much that he didn’t actually accomplish on the economic front, but his most singular real victory—-decisive repudiation of the Keynesian macro-economic policy model that had produced stagflationary havoc for more than a decade—-overshadows all his fiscal failures and the urban legend that he actually tamed Big Government.
Soaring bond yields and the fear of losing debt market access, therefore, are the one force that can cause the politicians, thieves and charlatans who man the machinery of democracy to sober-up and acknowledge the facts; and then to weigh the difficult options and tradeoffs, congeal a consensus and close the deal.
The present replay of high noon on Greece’s impossible mountain of debt clarifies an even greater evil. Namely, that the central bank printing presses have also utterly destroyed the fundamental requisite of fiscal democracy.
The mergers reflect the reality that government—Medicaid managed care, Medicare Advantage and the ObamaCare exchanges—is now the artery of insurance profits, not the private economy.
Particular Dogma is the Delusion of the Keynesian School
Enormous Variety in High-End Real Estate in San Francisco, From Mansions to Penthouses, Victorians to New, Ultra-High-Tech Construction
“It’s greed, fear of missing out, and willingness to suspend belief.”
Rising interest rates will impede profits starting as early as 2016, with S&P 500 earnings reduced by $10 to $15 a share over several years.
Greece's missed payments show why debt is bad. Christine Lagarde, head of the IMF, was taken back by the bundling of Greek's debt to make all payments due at the end of the month. Since Greece cannot payback the IMF at this time, the next weeks are critical for the state of Greece and the EU.
VCs are bidding high valuations for start-ups, as it is still a sellers market, but for how long? The article sheds light into the state of the economy as only being held up by the Fed and not the consumer.
