Over the past few years the American people have watched helplessly as their formerly respected national institutions sank into one sordid mess after another. First it was the IRS, then the VA, then the Secret Service, then the CDC, and now the Fed. What in the world’s going on?
“The problem with QE is it works in practice
but it doesn’t work in theory.”
I’ve written many times before about the dangers lurking inside Bull Markets (see, e.g., “The Trouble with Bull Markets,” post of 9/12/13, and “More Trouble with Bull Markets,” post of 9/26/13). Here are just a few of the problems:
In my last post I pointed out that democracy isn’t an end in itself, but a means to an end, that end being the improvement of the human condition. If under certain conditions democracies don’t actually improve the human condition, maybe we should tolerate some other form of government, at least temporarily.
“Democracy is the worst form of government.”
Churchill(1)
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