We caught up with Alasdair Macleod today. The Japanese government’s recent actions have helped further destabilize the world economy. Japan’s rapidly aging population now needs their savings to live on. Therefore, they have no choice but to print the difference. This is spreading across the world to newly developing countries. Stocks markets around the world, with the exception of the US, are in trouble. The limitations of money printing will shortly become apparent. Therefore, prices are going to go way higher and so will interest rates. Therefore, a new phase of the crisis is sure to emerge shortly. Governments need to admit once and for all that Keynesianism has outlived its usefulness.
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