America and the Formidable Nonsense
Warren Buffett just armed Berkshire Hathaway with $325 billion in cash. He sees the coming chaos- the fall of crypto and AI as well as that of a regime that is fundamentally contradictory to the founding principles of our Democracy.
9/11, the Covid-19 pandemic and 6 January 2021 unleashed a massive disruption of our supply chains. They also revealed how backwards is our understanding of trade, trade finance and supply chain logistics.
Since our beginning, America has sought the geography and means by which to increase trade with the rest of the world.
Trade can enrich a broad spectrum of our society and in our hemisphere, Chile and Peru have proven that by providing capital to the lowest rung of society and teaching and nurturing trade, trade finance and logistics, violence and terrorism become superfluous.
Despite these sea changing examples, America persists in investing in trickle-down economics and in the instruments of war.
Mark Twain once declared: It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.?
John Kenneth Galbraith described trickle-down economics in unforgettable terms.
The economist explained our penchant for economic delusion as "a tribute only to a recurrent preference in economic matters for formidable nonsense." In more biological terms, he refers to economic "trickle-down" as?the unlovely saying that when the horse dies in the street, the oats no longer pass through for the sparrows."
Today’s economic delusion is an idolatry of cryptocurrency and AI, fueled by a sustained effort on the part of the foreign and domestic competitors of Democracy to undermine our U.S. Dollar.
Folks who know nothing about trade on which Hamilton schooled Washington, are erecting idols to their interpretation of free trade and capitalism:
A?USD backed by gold, was used to stabilize the world economy after the Great Depression and now we want to return to one of the original causes of that economic fiasco?
As Yogi Berra would say, Its deja vu all over again.
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