|Interest in Minsky?|
via the New Yorker
Piketty is the rage now. Either, his thoughts explain things to people; or, he is trounced upon by those who are avid capitalists (as in, near-zero exploiters - we will get back to the ca-pital-sino, as almost an essential result from misusing Adam's thoughts).
Well, earlier, a mere six years ago, Minsky was the rage, though long passed on.We invoked Minsky several times: FEDareated, Truth Engineering, 7oops7. Others did so, as well, but, earlier: New Yorker Feb 2008.
December, 2008: We asked, is finance, by necessity, Ponzi-like (er, actually, Made-off was in there as an example, too, so we ought to say, by necessity, Made-off-ish).
We're at a similar place, via different paths. Back in 2009, no one envisioned that Ben would reach into his bag of tricks and do his QE stunt. Look at the chart in the post, Ben's put to see what looks to be highly correlated graphs (not talking causality, at the moment). In the times of that post (2013), many would not accept that Ben was pushing us toward some Minsky state. Too, though, all sorts of revelations were coming about in regard to the malfeasance (mortgage issues and more).
So, Minsky was forgotten, it seems. Or, his thoughts put on the back burner as less relevant.
The gist of it: Moms and pops ought not get pulled into the current game. Not, let's say, until Janet gets interest back to where we can graft some skin on the poor savers who have taken the worse of it (so that the fat cats could be coddled, sweet/baby-talked, and the like).
Too, we ought to have better access to the neutral truth, rather than to the marketing material pushed by different viewpoints (money-making schemes that abound and that are harped about daily by the talking, screaming, and spitting heads).
Remarks: Modified: 06/14/2014
06/14/2014 -- Review of Piketty's book.