The crisis central planners now face is that the one thing they need to do, raise interest rates, is the one thing they cannot do.
OPINION: Our current economic success is a debt-fuelled Ponzi scheme where everyone has a stake in the fictional statements issued each month. The party is going to end and it will not be pretty. Since the Great Depression, Western economies have run a predictable course. Good times coincided with government surpluses and high interest rates. Economic turbulence was … Read more