In this week's Off the Cuff with Mish & Chris podcast, Mish and Chris discuss:
- Willful Blindness of the Fiscal Cliff
- Our politicians choose the wrong path despite models for success
- Gold Manipulation
- Price discovery is broken in today's markets. Patient bullion holders will be eventually rewarded.
- America's Growing Demographics Problem
- Fewer workers making fewer real products
- Money Printing Forever
- Why it's the surest bet
Well, the "fiscal cliff follies" continue their absurd dance routine, which is no surprise to Chris and Mish. What does continue to astound them, though, is our leaders' inability to acknowledge the lessons reality is trying to teach them.
We now have two examples — one from Iceland and one from Latvia — of how a modern economy can effectively address 1) excessive indebtedness and 2) overspending. But do we hear any awareness of these success stories? Are the results even raised as possibly worth consideration?
Meanwhile, our financial markets are increasingly a showcase for daylight muggings perpetrated by the deepest-pocketed and most technologically sophisticated players. Time-honored benefits of our exchanges, such as true price discovery, have become a mockery. And the authorities charged with enforcing the rules of fairness and equal protection?
by denny-johnson