As the glutinous Keynesians rampage through our economy, we need to ask, will Wall Street head into another nose dive? Is it 2008 all over again? Some think so.The signs are not good. Bernanke has interest rates at near zero and QE 1 & 2 have run the full course. In all likelihood, Bernanke will find another way to do QE 3, but he will call it something else to fool the public. Wall Street will then be able to continue merrily along as inflation soars and nothing is fixed yet again. The Business Insider column below is worth the quick read.
Major Wall Street banks are laying off workers in droves, oil prices are at very high levels, pessimism is permeating the financial markets, debt ratings are being downgraded all over the place and consumer confidence is stunningly low.
Sadly, none of the fundamental things that were wrong with the financial markets back in 2008 have been fixed. In fact, many believe that Wall Street is even more vulnerable now. A ton of bad economic numbers have come pouring in lately and that has put investors in a really sour mood. All it would probably take is for one really significant “trigger event” to take place for Wall Street to go into full-fledged panic mode. Read more: Business Insider
To add a little humor, the college students and other partisans being interviewed in this video are right on top of the situation. Some of them apparently think Keynesian is the same as Kenyan.
When you don’t know the difference between Keynesian and Kenyan, maybe you need to give up your right to vote.