Living on stolen time
Let us try to apply this same approach to a truly complex system: the economies of US and Europe, in the state in which we currently find them: raging government deficits, staggering levels of bad debt, continuous government bailouts and infusions of free money by central banks, record levels of poverty and long-term unemployment and underemployment, and a lack of any meaningful economic growth. Specifically, let us try to characterize the effect of the continuous monetary infusions, bailouts, and stimulus spending. The economics profession has failed to do this and so amateurs are forced to step into the breach.


