From a recent post at David Stockman’s blog:
“Monetary central planning is failing to achieve Keynesian “escape velocity” because it has deeply impaired the engines of capitalist enterprise. Nowhere is this more apparent than in the grotesque financialization of American business that has occurred since the 1980s. As usual, this deformation is rooted in the massive growth of debt carried by non-financial businesses.”
Remember everyone, David Stockman (plus Tom Woods and other Austrian speakers) will be in Nashville for our annual “Night of Clarity” event August 15. Details here.