I’m pleased that the world has come round to my view: it’s taken them a while to do so. As that article also puts it:
[E]ven if stocks trade at a higher multiple these days, it does not matter: US stocks still look too expensive.
So, a crash is coming. It’s not a matter of if, it’s a matter of when. And that’s true of the economy and stock markets based on this evidence. We’re in that short lull before the storm breaks. Think of it as 1912 -13.
Well, given the predictions of a crash coming since 2009 eventually the world would have to come around to it. But here’s the joy:
Another chaos could be used by those who want to drive a neo-feudal and even fascist agenda. It is all too easy to see how. It is all too easy to see how Trump has laid the groundwork for that in the US, and that it could be emulated.
The question – and it is vital – is what can be done to prevent this? I have no certain answers. I am working on theory that provides alternative mechanisms for macroeconomic management. And I clearly think practical applications of modern monetary theory are important here.
If you were to design alternative methods of macroeconomic management, wouldn’t you need to understand how the current ones work first? You know, so that your “tutto nello stato” stuff doesn’t get confused with fascism?