The great monetary experiment enters a new phase, with America as the stakes

Summary:  We have begun a critical phase in the great monetary experiment. We know that we should stop, but our leaders fear the resulting economic shock. They fear to stop, fear to continue. There is a clear model describing this process, but one too disturbing for most people to accept: addiction. The decisions made during … Continue reading The great monetary experiment enters a new phase, with America as the stakes

Ben Bernanke sees the great slowdown in technological progress

Summary: The FM website has a great record of providing unpopular but accurate forecasts to its readers, but a poor record of updating them. Once they become consensus insights we drop them.  Another in a series about the next industrial revolution now starting; see the links at the end to other posts. Today let's revisit … Continue reading Ben Bernanke sees the great slowdown in technological progress

Fetters of the mind blind us so that we cannot see a solution to this crisis

We know so little.  This is one of the major themes of this site, hence the frequent rebukes to those speaking with great confidence about things far beyond our ken -- based on the available data and tested theories.  In the realm of public policy that is nowhere more salient than economics.  Which brings us to … Continue reading Fetters of the mind blind us so that we cannot see a solution to this crisis

Everything written about the economic crisis overlooks its true nature

Summary:   This site opened in November 2007 with three posts about this crisis, describing it as End of the post-WWII geopolitical regime.  Until we and our leaders understand this, we can neither appropriately respond to events nor prepare for future problems.  While the title overstates the situation (there are many who understand), it captures the key mental barrier we … Continue reading Everything written about the economic crisis overlooks its true nature

A speech by the President which deserves close attention

The President knows how to make a speech, both excellent rhetoric and powerful content.  I do not know when this speech will be broadcast, so I provide an excerpt from the transcript of the three key parts.    Check at the end of this post for important information about this speech.  Bold emphais is added. The Problem You have been … Continue reading A speech by the President which deserves close attention