whidbey

China, Russia Proactive Stupidity - Is U.S. Next?

This action is a symptom of two economies that have developed some productive capacity, but few financial institutions including central banking skills. Mix that with almost no political institutions and you have the sort of thing that leads to the labor theory of value. Employment is the central political issue in China and Russia and it is what is valued. By the way Barney Frank likes that idea, and the rest of the collective members of Congress think it is not all that bad. In the end, capital and capitalist are what make production systems work to provide jobs, and without then "other measures" are required like buying securities. It is stupid, but such things are almost inevitable when governments have no theory of how to get an economy to provide jobs. I suspect we are heading into a global recession or worse, but that no one will be able to do much about it before the damage is done.