World Trade Crash: Fading To Black
"World leaders Are Incapable & Unwilling To Address The Serious Challenges Facing The Global Economy""Miles of airwaves have been devoted to the vulnerable state of an enormous economic engine. Will the backlash against globalization and the rise of protectionism herald the death of global trade as we’ve known it for most of our adult lives? .. The sticky part comes down to where the onus lies to escape the global economy’s slide. As has been the case for all too long, most continue to look for refuge in central bankers’ actions. If only we could get economic growth off the floor, a virtuous cycle could be ignited as a trade revival follows .. The deterioration in world trade, multiple depressants and all, presents yet another example of the rising cost of our world leaders being incapable, or worse yet, unwilling to address the serious challenges facing the global economy. This will not end well. The more money central bankers pump into the financial system, the greater the divide that opens between the haves and have nots, a direct consequence of the fallacy of the wealth effect. Global trade fading to black is simply what stares back at central bankers when they look in the mirror even as the anger rises unchecked in nearly every corner of the globe .. World leaders must get out of their own ways and implement the structural reforms needed to shore up their domestic economies — without stifling trade. Though a nettlesome needle to be threaded no doubt, pigheaded politicians could find themselves unwillingly channeling the ghosts of Smoot & Hawley as the world economy itself fades to black in coming years."
- Danielle DiMartino Booth, Austrian School Economist & Former Advisor To The Dallas Federal Reserve President Richard Fisher
LINK HERE to the essay