Distraction as Policy While Our Economic Rome Burns
The comments below are an edited and abridged synopsis of an article by Matthew Piepenburg
Desperation and distraction are masquerading as economic policy. Piepenburg discusses how and why, and at what cost.
Up for discussion: Covid: the great economic and political hall pass; Jefferson (and history) ignored; Biden’s response; playing with minnows while ignoring whales; deliberate and desperate distraction as policy; conviction vs. employment; oh, and the economy; zombie stocks, bonds and bankers—too big to fail 2.0; and signal more currency-debasing miracle solutions.
“Stated bluntly: The financial and political leadership of the last 20+ years has placed the global financial system into a debt corner for which there is no exit other than deliberate inflation (and hence currency debasement).”
“This foreseeable disaster, however, is now conveniently blamed on a current pandemic rather than a grotesque history of equally grotesque mismanagement by policy markets who have confused debt with prosperity and double-speak with accountability.”
“Wouldn’t it be nice if such economic topics were making at least as many headlines as the latest infection rates?”
“Meanwhile, the mainstream media pursues plays chess with context-empty headlines, bogus job data and ignored debt bombs as our economic Rome (and currencies) burns silently around us all.”