Posts Tagged ‘politics’

“It’s EZ credit that is the linchpin in today’s fake-money system.

The Deep State’s stocks, bonds, and real estate values… not to mention its careers, incomes, and reputations… depend on it.

And it is made possible by the China trade… by Chinese workers who put in long hours in miserable conditions in order to stock the shelves of Walmart with cheap goods… by Chinese manufacturers who undersell their competitors to keep consumer price inflation in the U.S. at low levels… and by Bank of China, which holds some $1.25 trillion worth of U.S. bonds… thus propping up the whole wobbly capital structure….

In politics and economics, BS is all there is. The calculations are almost always fake; the statistics are quackery; the theories are devilish nonsense. And bad ideas never entirely disappear, they just re-emerge after a few years… often dressed in new duds.”

-Bill Bonner

“POLITICS, n. A strife of interests masquerading as a contest of principles. The conduct of public affairs for private advantage.” -Jason Zweig

“In her magical mystery world at the Eccles Building (Fed HQ) Janet Yellen surveys all of this.  She has never run a business.  She has never even had a job in a profit-making business…..  Bernanke, in his new book, The Courage to Act, tells us that he ‘did not want to be remembered as the person whose decisions had led to the Fed’s destruction.’  That’s right: The biggest challenge hits the Fed in 80 years and Mr. Bernanke is worried about his own reputation!” -Bill Bonner

Perhaps this is the biggest problem with many of our institutions and politics.  We have leaders with no experience in the real world and care more about their reputation than doing what needs to done.