Politics of Hate
by David Galland
In describing the current situation in these United States, and in many of the world’s other superpowers, we here at Casey Research have often used the word “intractable”… as in, “impossible to resolve.”
While that may not be technically accurate – because there is no problem related to economics that can’t be solved if one is willing to swallow sufficiently strong medicine – it is a correct assessment, given the overwhelming role that politics now play in the economy.
In a recent edition of The Casey Report, I observed that the largest and most persistent bubble of all over the last half-century has been the bubble in government – making the ones witnessed in dot-com stocks and housing mere blips by comparison.
The following chart is particularly illustrative of that contention.