The “aggregate demand is God” Keynesian Cargo Cult fetish of focusing on holiday sales is worse than meaningless–it is profoundly misleading.
Why has this doomed model of overbuilding and poaching sales become so dominant? Look no farther than the cheap-money policies of the Federal Reserve.
It may appear to be safe for everyone to be on the same side of the boat, but the gunwale is awfully close to the water.
The only way to keep the status quo from imploding is to banish common sense.
Would printing the cash to fund pensions for low-income retirees trigger inflation? It’s more of an open question than we might imagine at first glance.
Since the SDR is just an aggregate of fiat currencies, it cannot really change the fundamentals of the current status quo.
Solving profoundly structural problems by establishing a new foundation of values that most can embrace positively is the hallmark of leadership.
Actions create consequences, and not necessarily the consequences that were planned or expected.
Doing more of what worked well in the past fails in a spectacular fashion.
All financial schemes for retirement are misdirections of the real challenge, which is creating enough real-world surplus to support 75 million retirees.