Mish has a good sense of how things work, and he is wondering if Spain will of the way of Cyprus. Who knows what will happen and when, but one thing is sure, it will go very badly when it finally gets out of hand. 1979, 82, 88, 97, 2002 2008 economic crises were all failures of policy, and the replacement policy always made it worse, except if you were on the winning side of the policy.
There will come a time when the powers that be cannot get enough coordination to achieve some sort of stasis. The things will unravel until it gets hard in ways we cannot foresee. Yet we forge ahead anyway.
After that essay about Bastiat, it is ironic that we are willing to plunge ahead forward not knowing what horrors await yet another policy tweak, bit we are unwilling to forge ahead not knowing what freedom will bring, what would forms as things get better in ways we cannot foresee.
Democracies are like that. The world's first known democracy voted to be oppressed. Everyone in power knows this, and decided to give the people what they want, good and hard.
Feel free to forward this by email to three of your friends.
There will come a time when the powers that be cannot get enough coordination to achieve some sort of stasis. The things will unravel until it gets hard in ways we cannot foresee. Yet we forge ahead anyway.
After that essay about Bastiat, it is ironic that we are willing to plunge ahead forward not knowing what horrors await yet another policy tweak, bit we are unwilling to forge ahead not knowing what freedom will bring, what would forms as things get better in ways we cannot foresee.
Democracies are like that. The world's first known democracy voted to be oppressed. Everyone in power knows this, and decided to give the people what they want, good and hard.
Feel free to forward this by email to three of your friends.
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