Of Two Minds

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The rot caused by easy money will only become fully visible when the hollowed out institutions start collapsing under the weight of incompetence, debt and hubris.

Make the U.S. attractive to labor and capital with low rates and a simple, fair tax system and the populace and economy will benefit.

The point is the good times of seemingly endless expansion are never permanent yet human regimes become accustomed to managing only expansion.

The top monkeys are doing very well indeed, while the troop is feeling that the Monkey Gods have signaled their displeasure with the failure of the top monkeys.

Balancing globalized trade and capital flows with domestic self-reliance and control of credit and capital is a positive development for everyone.