Gail Tverberg continues to produce superb work. In her latest piece she provides a very nice summary that explains:
- why the economy performed well in the past
- why the economy is struggling today
- why we should expect a Minsky moment
I’ve been expecting a Minsky moment for several years. Unfortunately it’s much easier to predict what will happen than when it will happen.
In this case it’s much better to prepare too soon because when the Minsky moment occurs it will be too late to do anything to protect yourself.
Isn’t it fascinating that none of our political and business leaders discuss this issue? Why aren’t they curious to understand the real reason that global growth has slowed and is not increasing despite unprecedented measures?
Why do so few care about understanding the scientific underpinning of economics?
Denial is amazing!