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Jun 29

London Telegraph: “the world is defenseless against future financial crises”

worship2_dees

An amazing news report in the (formerly London) Telegraph this week. The Telegraph reports that the world’s central banks have kept interest rates so artificially low for so long (mostly to allegedly “fix” financial crises in the near past) that the central banks will have no possible way to “fix” any future financial downturns. The banks simply cannot lower interest rates any further (unless they PAID people to take their money on loan).

If you save anything in modern America (or anywhere else in the Western (or Eastern) World) you are an utter fool. If you try to launch a business venture, you will be punished from a dozen fronts. High taxes, redistributionist policies that place half the West’s population at the dependence of the other half, and burdensome licensing and regulatory schemes keep most poor people from lifting themselves out of poverty via entrepreneurism.