The Keynesian Recovery Meme Is About To Get Mugged, Part 1…”they are flying blind.”
by Tyler Durden
ZeroHedge.com
12/22/2015
Since our Keynesian central bankers have no clue that their prodigious money printing resulted in the drastic underpricing of credit and capital over the course of the past two decades, they are flying blind. They simply fail to see that the global economy is now swamped in more excess capacity than at any time since the 1930s, and probably even then. So they keep expecting the commodity cycle to momentarily bottom and prices to rebound, thereby reflating CapEx and household spending.
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