"After digesting various rumors about the potential response to the EZ crisis, I made an off the cuff comment that we’re to the point where investors have more confidence in blogs such as Zero Hedge than central banks and government leaders. What ensued was a lively and interesting bunch of comments regarding this observation. Among them:
One commented, “..20 years of central banks and governments lying to people, regulators becoming facilitators, and NO accountability.” Another: “The real question is whether this is reversible…As it is now, bias and intellectual lethargy just exacerbate the divisiveness and economic myth-making.”
The purpose of this post is NOT to debate who/what is largely to blame, as that topic has been exhausted and will be debatable for decades on end. Rather, what are the implications of this loss in confidence? Is it more than just investors being unhappy with central banks & government? Or are there real economic implications to this loss of confidence?..."
at http://pragcap.com/what-the-loss-of-confidence-could-mean-for-u-s-markets
One commented, “..20 years of central banks and governments lying to people, regulators becoming facilitators, and NO accountability.” Another: “The real question is whether this is reversible…As it is now, bias and intellectual lethargy just exacerbate the divisiveness and economic myth-making.”
The purpose of this post is NOT to debate who/what is largely to blame, as that topic has been exhausted and will be debatable for decades on end. Rather, what are the implications of this loss in confidence? Is it more than just investors being unhappy with central banks & government? Or are there real economic implications to this loss of confidence?..."
at http://pragcap.com/what-the-loss-of-confidence-could-mean-for-u-s-markets
