NYTIMES; An organization representing the world’s main central banks warned on Sunday that dangerous new asset bubbles were forming even before the global economy has finished recovering from the last round of financial excess.
Investors, desperate to earn returns when official interest rates are at or near record lows, have been driving up the prices of stocks and other assets with little regard for risk, the Bank for International Settlements in Basel, Switzerland, said in its annual report published on Sunday.
Recovery from the financial crisis that began in 2007 could take several more years, Jaime Caruana, the general manager of the B.I.S., said at the organization’s annual meeting in Basel on Sunday. The recovery could be especially slow in Europe, he said, because debt levels remain high.
“During the boom, resources were misallocated on a huge scale,” Mr. Caruana said, according to a text of his speech, “and it will take time to move them to new and more productive uses.”I'VE BEEN SAYING THIS FOR YEARS.
THE STOCK MARKET IS ONLY UP SINCE 2008 BECAUSE OF CENTRAL BANKS PRINTING MONEY.
THE REAL ECONOMY SUCKS.
AND HIGHER TAXES AND MORE REGULATIONS WON'T FIX IT.
WE CAN FIX THE USA ECONOMY IN THREE EASY STEPS:
1 - IMMEDIATELY ELIMINATE GASOLINE TAXES AND ALL ENERGY TAXES AND ALL ENERGY SUBSIDIES - AND OPEN ALL FEDERAL LANDS TO ENERGY EXPLOITATION, AND OPEN THE KEYSTONE PIPELINE.
2 - CUT THE USA CORPORATE TAX RATE IN HALF TO INCREASE INVESTMENT IN THE USA AND REPATRIATE PROFITS.
3 - END ILLEGAL IMMIGRATION TO REDUCE THE OVERSUPPLY OF LABOR: FIX THE BORDERS AND SEND ILLEGALS HOME.
UNFORTUNATELY FOR THE USA AND THE WEST, IF REDUCING SOCIALISM IS THE COST OF GROWTH, THEN THE LEFTISTS WOULD RATHER RUIN THE ECONOMY THAN FIX IT.
No comments:
Post a Comment