The Nazis managed things. The US today is throwing away the management book. We are destroying markets.

The trend in "modern, professional, management" seems to be to maximize the current CEO's bonus. The longer term consequences are seen as the next guy's problem.

One of my favorite whipping boys is Boeing. A Jack Welch acolyte took over a company with a solid reputation, sound balance sheet, and slightly overfunded pension plan. He left it with Billions in negative equity, an underfunded pension plan, and a book of shoddy engineering and construction practices that started to blow up only a couple years after he left. It was his successor, who came from the military side, that took the fall when 73s started falling out of the sky, due to shoddy engineering.

That is how I see the US economy, in the hands of a "modern, professional, manager", the sort METARites know me to call a "JC". The revenues from the tariffs, as well as savings from budget cuts, will be redistributed to blow financial bubbles. Everything will be great, until it isn't.

Steve

Macroeconomic Trends and Risks FAQ

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