The below video had hopes. It had hopes of actually describing and prescribing the financial crisis we face. But it doesn't. (Unfortunate h/t to The Big Picture and Naked Capitalism.)
Richard Koo is your classic Keynesian. I can't even believe that he claims Japan is doing so well. He even claims that China solved their problem. The problem is China appears to be headed for a hard landing. So much for the economic stimulus working.
If you've watched the above, I'm sorry for wasting your 20 minutes. It is useful though to see worthless 70 year old economic thought.
I will add that he is absolutely correct that every 80 to 100 years we have a collapse. Ours is just around the corner.
###
Comments