Our Blindness towards Hoarding
Today I listened to an "economist" on Bloomberg talk about the slow US economy and how "neither fiscal nor monetary policy" could spur more growth. For him and the businesses he serves this is 'caused' by excessive "government regulation." We've been hearing this claim since the late 70s and from the 80s to about 2008 policy makers bought it. It is not true. But nobody debated him when he started. Now that the Trickle Down Crowd ideas have been refuted, they claim nobody knows what to do. None of that is true! What causes recessions and depressions is looting and the hoarding of that loot!