Maggie's Farm

Excellent stuff: Washington’s Perfect Storm Of Policy Failure: On The Folly Of Massive Money Printing And America’s Collapsing Imperium

When I read this, I wish he were back in the government. A quote:

If you look at the entire radar screen of things developing both domestically and internationally, we are plunging deep into a perfect storm of policy failure. The American Imperium is collapsing. There is blowback everywhere. The wreckage of prior policy mistakes from our interventionist foreign policy is coming home to roost. The Ukraine is one area at ground zero for that.

But second, monetary central planning is now reaching a dead-end. It is inflating the third financial bubble of the century and the Fed is now clueless as to how it will manage to unwind the massive balance sheet expansion it has been undertaking.

And third, the fiscal doomsday machine continues to crank on. Washington is ignoring the fact that we are six years into a business cycle expansion and we are still running massive deficits and there is no cushion for the next upset that comes to the economy.